Wednesday 3rd November 2010 |
Text too small? |
Fonterra Cooperative Group, the world’s biggest dairy exporter, set a new peak day milk processing record in October, while prices remained firm at its fortnightly milk power auction.
The dairy co-operative’s 26 sites located throughout the country processed 76.8 million litres of milk in a single day, beating the old record by 3 million litres, according to a statement. Fonterra said it has been investing in new technologies to boost its processing ability to keep ahead of production spikes.
“It was a slow start to the season with the wet weather in the Waikato and Taranaki and snow on the South Island,” said Gary Romano, managing director for trade operations. “However, this recent spell of fine weather has seen a sharp increase in production on-farm.”
Prices were unchanged overnight at the cooperative’s latest online auction of milk powder, having declined 2.5% previously.
Separately, the trade-weighted price of milk products was unchanged at US$3,542 per metric tonne, according to the global DairyTrade website managed by CRI International.
Prices for anhydrous milk fat rose 4.5% US$5,394 a tonne, butter milk powder fell 1.8% to US$3,011, and skim milk powder fell 1.1% to US$3,021. Whole milk powder was unchanged at US$3,495 a tonne, though its third dropped 6.7% to US$3,316.
Fonterra sold 31,200 tonnes of product for some $110.5 million. There were 83 winning bids from 119 participants over 10 rounds of bidding.
Businesswire.co.nz
No comments yet
NZAS Sign Long Term Contracts
Amended - IFT230 Maturity and Exchange for IFT350
Synlait forecast milk price update
Chorus submits 2023 fibre regulatory report
Infratil Infrastructure Bond Exchange Offer opens
May 31st Morning Report
NZAS and Mercury sign long-term agreement, creating opportunity for future investment in renewables
Meridian and NZAS sign long term contracts
ArborGen Holdings Results for Year Ended 31 March 2024
BAI - Full unaudited results to 31 March 2024