Global dairy prices rise across the board
Whole milk powder rose the least at 0.9% compared with a fortnight ago.
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Hawke’s Bay
Prices rose across the board for the first time in two months in the latest GlobalDairyTrade (GDT) auction.
The average increase was 2.7% for an average price $US3587 per matric tonne (mt) compared with the previous auction on April 4.
A total of 19,262mt of product was sold in 16 bidding rounds.
There were 182 participating bidders, of which 102 had winning bids.
Whole milk powder (WMP), which is the benchmark for setting dairy farmer returns, rose the least, at 0.9% and was the largest amount offered. Lactose was up the most at 14.8%.
A dairy industry analyst says market demand is strong.
“Fonterra did lift its whole milk powder offer volumes ahead of this event; however, solid demand seems to be absorbing anything New Zealand has to offer at the moment,” says AgriHQ's Amy Castleton,
Butter milk powder (BMP) was the only product not offered.
Details:
• AMF index up 5.3%, average price SUS$6120/mt
• Butter index up 2.9%, average price $US5654/mt
• Ched index up 4.6%, average price $US3855/mt
• LAC index up 14.8%, average price $US$687/mt
• RenCas index up 3.1%, average price $US5792/mt
• SMP index up 3.6%, average price $US1913/mt
• WMP index up 0.9%, average price $US3311/mt
Nevil Gibson
Wed, 18 Apr 2018
Wed, 18 Apr 2018
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Global dairy prices rise across the board
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