Fonterra milk powder auction prices fall

Milk powder for December delivery fell to an average price of US$2,865 a metric ton in an auction yesterday, the third such decline in as many sales.

Fonterra, the world's biggest exporter of dairy products, last week cut its forecast milk payment to farmers for the current season by 16% to NZ$6.60 a kilogram, from the record NZ$7.90 it paid last year, reflecting falling prices. Chairman Henry van der Heyden said a decline in the New Zealand dollar may not be enough to offset falling global dairy prices.

Milk powder for delivery in January through to March fell 16% to an average US$2,897 a ton, and for April to June declined 9% to $3,035 a ton, according to GlobalDairyTrade.

By Jonathan Underhill

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.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

Delegat Group Limited (NZX: DGL) $333 million syndicated bank facilities
7th December 2021 Morning Report
Sky Network Television Limited (NZX: SKY) Transformation accelerates - Sky raises FY22 guidance
PGG Wrightson Limited (NZX: PGW) FY22 Operating EBITDA forecast to better last year
Vulcan Steel Limited (NZX: VSL) Trading Update & Earnings Upgrade
6th December 2021 Morning Report
Synlait Milk Limited (NZX: SML) Partnership to enhance soil health; test regen ag practices
Property for Industry Limited (NZX: PFI) Strong Valuation Outcome, Penrose Acquisition
3rd December 2021 Morning Report
Fonterra Shareholders Fund (NZX: FSF) Fonterra provides Milk Price, earnings and Q1 update