Sharechat Logo

Dairy prices gain 5.9%

Wednesday 2nd March 2011

Text too small?

Dairy commodity prices continued to rise at Fonterra's overnight online auction, with the globalDairyTrade trade weighted index rising 5.9%, and the average winning price up to US$4826 (NZ$6446) from US$4540 a fortnight ago.

For anhydrous milk fat, the trade weighted price edged up 1.1% to US$6424, skim milk powder gained 2.3% to US$3977, and wholemilk powder was up 9.6% to US$4619.

ANZ said larger increases for shorter term contracts indicated supply concerns remained to the fore, while BNZ's Mike Jones pointed out the overnight rise of 5.9% took the year-to-date rise to a "whopping" 28%.

Yesterday, the latest ANZ commodity price index showed world prices for New Zealand's main export commodities rose 2.7% in February to another record. It was the sixth consecutive monthly rise for the index which is up a cumulative 21% over the past six months.



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Scott Technology Limited (NZX: SCT) Announces FY21 Results
21st October 2021 Morning Report
Greenfern Industries Limited (NZX: GFI) L&Q Notice
TruScreen Group Limited (NZX: TRU) Clinical Trial Results Highlight Efficacy of TRU Technology
20th October 2021 Morning Report
Freightways Limited (NZX: FRE) Acquisition of ProducePronto
19th October 2021 Morning Report
PGG Wrightson Limited (NZX: PGW) Guidance Update
Vital Limited (NZX: VTL) Provides Update on PSN LMR
18th October 2021 Morning Report