#Dairy auction values lift

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ONLINE auction prices have eased in the short term, but values have lifted for spring delivery.
And this is good news for Australian dairy, according to an industry analyst.
«Last event we saw the later-term contracts dropping and between July and August it went up,» Dairy Australia industry analyst John Droppert said.
«This time the near term has dropped back … and later spring has gone up a bit.»
For example prices for whole milk powder at last week’s auction were down 14.5 per cent for delivery in August and down 20.5 per cent for delivery in September.
The October contract was only down 1.8 per cent, while December was up 1.5 per cent.
The lowest average WMP price during this time was $US4338 a tonne in October.
Last year, the two October online auctions resulted in an average weighted price of $US3421/tonne and $US3167/tonne for WMP.
The entire offering on Global DairyTrade during October last year, more than 50,000 tonnes at both auctions, averaged $US3421/tonne and $US3167/tonne.
The average WMP price at last week’s auction was $US4643/tonne, down 7.1 per cent from the previous auction in the middle of May.
Prices for a larger offering of product on Global DairyTrade decreased by an average of 5.3 per cent last week to $US4443/tonne.
In the largest auction since February 19, last week 24,252 tonnes of dairy product was sold an increase of 6615 tonnes from the May 15 auction. This is the third consecutive auction price decrease, after prices reached record highs in March because of concerns about supply linked with the New Zealand drought.
Mr Droppert said smaller volumes of product through the winter months were volatile and this affected the average price.
«Prices are a bit more stable than the headline number suggests,» he said.
«Some of the nearer-term contracts are a lot more volatile at the moment.»
The next Global DairyTrade auction will be on June 18.
 
Source: Weekly Times

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