Dairy prices stabilise

Dairy commodity prices stabilised at Fonterra's overnight online auction, after having fallen back at the two previous sessions.

The globalDairyTrade trade weighted index edged up 0.1%, with the average winning price rising to US$4293 (NZ$5442), from US$4280 a fortnight ago.

That followed a fall of 2.4% this month and a fall of 8.2% in mid-March. Despite those declines, prices remained at elevated levels.

The trade-weighted price for anhydrous milk fat fell 0.8% overnight with an average winning price of US$5951, skim milk powder fell 0.6% with the average price at US$3771, and whole milk powder rose 0.8% with the average price at US$3912.

NZPA

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