Global dairy auction average price drops 1.2%
The price index at Fonterra’s Global Dairy Trade auction dropped 1.2% at the latest fortnightly event, despite less product being offered.
After steady rises in the previous two auctions, the overall average price fell to US$5,016/t (£3,000).
The decline in supply to the auction since early December continued, as 34,568t of the 34,998t offered was sold.
All commodities except butter milk powder suffered a decline in average price from the last event.
Individual product results were:
• Butter sold at a weighted average price of US$4,586/t (£2,749), down 3.8%
• Cheddar sold at a weighted average price of US$4,845/t (£2,907), down 1.7%
• Anhydrous milk fat sold at a weight average price of US$5,314/t (£3,186), down 4.5%
• Butter milk powder sold at a weighted average price of US$5,355 (£1,910), up 3.1%
• Skim milk powder sold at a weighted average price of US$4,780 (£2,868), down 0.1%
• Whole milk powder sold at a weighted average price of US$4,999 (£2,997), down 0.3%
• Milk protein concentrate sold at a weighted average price of US$8,824/t (£5,295), down 5.4%
• Rennet casein sold at a weighted average price of US$11,461/t (£6,871), down 3.5%
• No lactose was offered
GDT – owned by New Zealand co-op Fonterra – holds two online auctions each month, with dairies from Europe, India, USA, New Zealand and Australia selling commodities to buyers from more than 90 countries.
Arla started selling British skimmed milk powder from Westbury at the auction in December.