Dairy prices tumble

Dairy commodity prices tumbled at Fonterra's overnight online auction, with the globalDairyTrade trade weighted index falling 8.2%, and the average winning price down to US$4443 (NZ$6064) from US$4826 a fortnight ago.

The decline came amid a broad sharp fall in commodity futures, with the Reuters-Jeffries CRB index on course for its biggest daily slide in four months on fears Japan's nuclear crisis could turn into a larger catastrophe.

At the Fonterra auction, the trade weighted price for anhydrous milk fat fell 4.5% to US$6111, skim milk powder fell 4.6% to US$3816, and wholemilk powder dropped 11.4% to US$4105.

BNZ said the decline was broadly as expected, and prices were still up 17.5% for the year and likely to stay at favourable levels for some time.

NZPA

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:

PEB - First Triage Plus Tests Ordered from Townsville
March 5th Morning Report
Devon Funds Morning Note - 04 March 2026
Genesis Energy announces opening of Rights Offer
March 4th Morning Report
Comvita appoints Andrea Wilkins as Chief Marketing Officer
Synlait provides banking facilities update
CHI - Channel Infrastructure delivers solid FY25 financial result
February 27th Morning Report
TRU - Results Guidance FY2026