Fonterra dairy prices rise 2.6% to highest since July sale

Average prices of dairy products rose to the highest level since July, with gains in both whole  and skim milk powder, the biggest products on offer.

The GDT-TWI Price Index rose 2.6 percent, the second increase in a row of that size, according to the latest results posted on the globalDairyTrade auction website. The average winning price rose to US$3,737 a metric tonne. All seven products on offer gained.

Whole milk powder rose 2 percent to US$3,637 a tonne and skim milk powder gained 2.6 percent to US$3,424. Anhydrous milk fat climbed 12 percent to US$4,013 a tonne and milk protein concentrate gained 0.5 percent to US$6,280 a tonne.

Rennet casein rose 3.6 percent to US$8,721 a tonne. Butter milk powder rose 14.4 percent to US$3,410 a tonne and cheddar rose 2.1 percent to US$3,572 a tonne.

There were 111 winning bidders from 173 participants over 14 rounds. The platform has 491 qualified bidders, up from 482 at the last auction.

(BusinessDesk)

BusinessDesk.co.nz

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