Sharechat Logo

NZ dairy product prices slip 0.9%

Thursday 2nd February 2012

Text too small?

Prices of dairy products sold on Fonterra Cooperative Group’s GlobalDairyTrade platform fell for the third time in four sales with declines for all six product types on offer.

The GDT-TWI Price Index fell 0.9 percent from the last sale a fortnight ago. The average winning price across all products dropped to US$3,666 per metric tonne.

The price of whole milk powder fell 0.9 percent to US$3,533. Whole milk powder typically accounts for more than half the product sold on the platform.

A total of 28,011 metric tonnes of product was sold, down from 31,026 tonnes in the previous auction.

Skim milk powder fell 0.5 percent to US$3,296 a metric tonne. Anhydrous milk fat dropped 3.5 percent to US$3,942 a tonne and cheddar declined 1.1 percent to US$3,640 a tonne. Milk protein concentrate fell 4.9 percent to US$5,569 a tonne and rennet casein dropped 4.3 percent to US$7,715 a tonne.

There were 118 winning bidders from a total 155 participants across 12 rounds at the latest sale. The number of qualified bidders increased to 558 from 533 at the last sale two weeks ago.

(BusinessDesk)

BusinessDesk.co.nz

Bond Offer: Infratil Ltd, 7.2 year & 10.2 year unsecured unsubordinated bond


  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
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:

NZ dollar eases as market eyes pending GDP data
Evolve shareholders demand answers
Strong tourism, low rates keep lid on NZ current account deficit
Refining NZ margins jump to 18-month high
Goodman opts for underwritten $150m placement to raise capital
Kathmandu shares rise 9.3% on strong FY result, solid US performance
FMA seeks greater powers from the government
Goodman opts for underwritten $150m placement to raise capital
NZ dollar opens higher as dairy prices lift, oil eases
Napster's Sean Parker yet to seek OIO approval for Weta Digital stake

IRG See IRG research reports