Dairy prices slip at Fonterra auction

Dairy commodity prices slipped at Fonterra's overnight online auction, with the GlobalDairyTrade trade weighted index falling 1.1%.

Despite the fall in the index, the average winning price at the overnight event rose to US$4443 (NZ$5670) from US$4367 a fortnight ago.

The trade weighted price for anhydrous milk fat fell 5.8% with the average winning price at US$5340, skim milk powder fell 1.5% with the average price at US$3824, while whole milk powder edged up 0.1% with the price of US$3863.

BNZ strategist Kymberly Martin said the result showed continued consolidation at elevated levels, and left dairy prices 16% higher than at the end of last year.

"The price for NZ's main commodity appears to be holding up better than broad global commodity prices."

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:

PFI - Q3 Div & Upgraded FY25 Div Guidance, FY26 Div Guidance
AIA - Auckland Airport announces leadership team change
May 9th Morning Report
May 8th Morning Report
NZME Takeovers Panel determination
MNW - Commerce Commission clears the Contact Energy acquisition
May 7th Morning Report
General Capital Appoints New CFO
SUM - Summerset Considers Retail Bond Offer
SKC - Updated FY25 Full Year Earnings Guidance