Fonterra GlobalDairyTrade prices creep higher

Prices at Fonterra's global dairy trade (GDT) auction have crept higher again, but volumes sold continued to fall.
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Prices rose 1.1 per cent at the overnight auction, driven by a big jump in cheddar and butter milk powder prices.
The average winning price at the auction was US$3374 (NZ$4461) a tonne, up from US$3366/tonne at the previous auction a fortnight ago.
The trade-weighted GDT price index hit a five-year low in December, but has lifted at each of the last six auctions,and is now at its highest level since July.
The New Zealand dollar climbed from US75.3 cents at midnight to briefly trade above US75.7c this morning.
However, Westpac senior market strategist Imre Speizer said the auction was essentially flat, and not a factor in the kiwi’s ascent.
Instead the dollar was rising in parallel with the Australian dollar after the Reserve Bank of Australia surprised the market by refraining from cutting interest rates yesterday.
The improved auction result saw AgriHQ lift its farmgate milk price forecast to $4.75 per kilogram of milk solids, just ahead of Fonterra’s $4.70/kg forecast that the co-operative it reconfirmed last week.
However, AgriHQ dairy analyst Susan Kilsby said price movements were minimal, with uncertainty in the markets.
That had been largely driven by a change in tack from Fonterra, which last week increased the volume of whole milk powder product to be offered over the coming months.
«This was a sharp turnaround from a month earlier when it reduced GDT volumes due to falling milk production,» Kilsby said.
Milk intakes had not fallen as quickly as expected, and buyers’ fears about demand not being met by supply had been dispelled somewhat.
However, at last night’s auction, the increased volume only applied to the key export category of milk powder, the price of which fell 1 per cent.
Across all product categories, volume dropped to 22,094 tonnes, down from 22,957 tonnes at the previous auction.
Other price decliners at the auction included anhydrous milk fat, down 2.2 per cent, and rennet casein, down 0.7 per cent.
Cheddar led the gainers, up 10.8 per cent, followed by butter milk powder, up 6.8 per cent, skim milk powder, up 5.9 per cent, and butter, up 2.5 per cent.
There were 107 winning bidders out of 160 participating. The number of qualified bidders rose to 703, up from 694 at the last auction.
 
Source: Stuff
 

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Así lo expresó Domingo Possetto, secretario de la seccional Rafaela, quien además, afirmó que a los productores «habitualmente los ignoran los gobiernos». Además, reconoció la labor de los empresarios de las firmas locales y aseguró que están «esperanzados» con la negociación entre SanCor y Adecoagro.

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