Dairy product prices rise 0.3 percent , volumes ebb in latest GDT auction

Prices of dairy products rose in the latest GlobalDairyTrade auction while volumes continued to fall from record levels reached last month.

The GDT Price Index, previously known as the GDT-TWI Price Index, rose 0.3 percent compared to the last sale two weeks ago. The average winning price was US$4,880 a tonne compared to US$4,941 a tonne.

The total volume of dairy products sold at the latest auction fell to 46,664 tonnes from 53,479 tonnes two weeks ago, the third straight decline. Fonterra, whose product dominates the platform, had record sales in August of a combined 109,664 tonnes, worth $685 million.

The average winning price of whole milk powder, the biggest product by volume, rose 1.1 percent to US$5,096 a tonne. Skim milk powder fell 1.7 percent to US$4,330 a tonne.

The price of anhydrous milk fat declined 3.3 percent to US$4,940 a tonne and butter milk powder rose 2.2 percent to US$4,805 a tonne. Butter rose 5.2 percent to US$3,911 a tonne.

Cheddar rose 1 percent to US$4,295 a tonne. Lactose wasn't offered. Milk protein concentrate fell 0.6 percent to US$7,569 a tonne. Rennet casein fell 0.4 percent to $9,825 a tonne.

There were 131 winning bidders over 13 rounds. There were 178 participating bidders out of a total number of qualified bidders of 877.

BusinessDesk.co.nz

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:

Second St John withdrawal of labour takes effect tomorrow with further strikes likely
Sanford Appoints Independent Director
CRP ADVISES CLOSURE OF SHARE OFFER TO EXISTING INVESTOR
Devon Funds Morning Note - 14 August 2024
OCR 5.25% - Monetary restraint tempered as inflation converges on target
Consumers still need due diligence as new deposit takers emerge.
Woolworths strike: staff asked to dress up in Disney costumes for a week on their own dollar
Turners Invests in Quashed Online Insurance Platform
PGW Reports on Challenging Year
Arvida Announces Executive Team Changes