Sharechat Logo

Dairy product prices fall 1.6% in GlobalDairyTrade auction, first decline in three sales

Wednesday 21st December 2011

Text too small?

Prices of dairy products fell for the first time in three sales on Fonterra Cooperative Group’s GlobalDairyTrade platform, with declines in most of the products on offer.

The GDT-TWI Price Index fell 1.6 percent compared to the last sale two weeks ago. The average winning price declined to US$3,688 a metric tonne from US$3,737 a tonne in the Dec. 6 sale. The price of whole milk powder declined 1.5 percent to US$3,589.

Prices of commodities have declined through much of December amid speculation global growth is faltering in the face of Europe’s debt crisis. The Thomson Reuters/Jefferies CRB Commodity Index of 19 commonly traded commodities touched a two-month low last week. Still, Fonterra this month raised its forecast payout to farmers for 2012, citing a ‘modest’ recovery in prices over the past two months.

The average winning price for skim milk powder declined 3.2 percent to US$3,312 a metric tonne. Among other products on offer, anhydrous milk fat rose 4.8 percent to US$4,183 a tonne while butter milk powder dropped 3.8 percent to US$3,280 a tonne.

Cheddar climbed 1 percent to US$3,601 a tonne and milk protein concentrate dropped 6.7 percent to US$5,860 a tonne. Rennet casein declined 6.9 percent to US$8,122 a tonne.

There were 119 winning bidders over 10 rounds, out of 156 participating bidders. The number of qualified bidders rose to 504 from 491 in the last sale two weeks ago.


  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:

18th October 2021 Morning Report
T&G Global Limited (NZX: TGG) FY21 Earnings Guidance Update
Arvida Group Limited (NZX: ARV) Successful Completion of $155m Placement
FreshLeaf: Cannabis on course to be 'medicine of the masses'
Arvida Group Limited (NZX: ARV) to Acquire Arena Living Retirement Living Portfolio
My Food Bag Group Limited (NZX: MFB) Market Update and HY Results Announcement Date
Harmoney Corp Limited (NZX: HMY) Delivers Record September Quarter
Vital Healthcare Property Trust (NZX: VHP) Announces Successful Completion of $115m Placement
14th October 2021 Morning Report
General Capital Limited (NZX: GEN) Completes Greenfern Listing