The price index at Fonterra’s Global Dairy Trade auction fell for the second successive auction, with a big jump in product offered.

The average winning price on 4 March fell to US$4,794/t (£2,868), taking the price index down 4%.

Supply bounced back from its fall since December with 41,086t sold, up from 34,568t two weeks ago.

See also: Global dairy auction average price drops 1.2%

Butter, cheddar and rennet casein all traded at higher prices, but all other commodities saw prices drop.

Individual product results were:

  • Butter sold at a weighted average price of US$4,746/t (£2,839) and the index was up 3.9%
  • Cheddar sold at a weighted average price of US$4,837/t (£2,894) and the index was up 0.7%
  • Anhydrous milk fat sold at a weighted average price of US$5,126/t (£3,067) and the index was down 3.5%
  • Butter milk powder sold at a weighted average price of US$4,792 (£2,867) and the index was down 5.8%
  • Skimmed milk powder sold at a weighted average price of US$4,658 (£2,786) and the index was down 3.9%
  • Whole milk powder sold at a weighted average price of US$4,703 (£2,813) and the index was down 5.7%
  • Milk protein concentrate sold at a weighted average price of US$8,524/t (£5,100) and the index was down 3.3%
  • Rennet casein sold at a weighted average price of US$11,791/t (£7,055) and the index was up 2.9%
  • 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.