NZ dairy product prices slip 0.9%

Thursday 2nd February 2012

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

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