Dairy auction price slide halted

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Dairy prices have risen for the first time in four months at the GlobalDairyTrade auction, halting a 25 per cent slide.

Prices rose 0.9 per cent at the auction overnight after falling 4.2 per cent at the previous auction a fortnight ago.

The average winning price was US$3807 (NZ$4398) a metric tonne, down 24.5 per cent from the recent peak of US$5042 on February 4, while the trade-weighted dairy price index was down 25.2 per cent over that period.

The auction overnight saw 31,984 tonnes sold, with a maximum supply of 32,568 tonnes, down 13 per cent from the previous auction.

Whole milk powder, the largest category by volume, was up 2.4 per cent while butter milk powder saw the biggest gain, with prices jumping by 17 per cent.

Rennet casein (up 4.6 per cent), cheddar (up 2.4 per cent) and butter (up 1.8 per cent) also gained.

Anhydrous milk fat (down 3.8 per cent) and skim milk powder (down 0.2 per cent) were the only products that saw a price fall.

The New Zealand dollar dropped this morning after the milk price announcement, falling from US86.7 cents at 12.28am to as low as US86.4c at 1.24am, and is now trading at about US86.5c.

The GlobalDairyTrade auction platform is owned by Fonterra, which accounts for close to 90 per cent of the product sold at the auctions.

Source: Stuff

Mirá También

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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