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:

MEL - Dividend reinvestment plan strike price
MKR - High Grade Gold Drill Intersections from Pipeline Ridge
KMD - ASM Date and Closing Date for Director Nominations
PCT - Sale of PwC Tower now unconditional
GEN - General Capital (GEN:NZ) Subsidiary General Finance Update
BRW - Bremworth Director Resignations
September 10th Morning Report
PLP - Appointment of new director
BIF - appointment of new director
ERD - Ongoing Disclosure Notice - Directors Fixed Trading Plan