Global Dairy Trade price slide slows again

The price slide at Fonterra’s Global Dairy Trade auction has slowed again, as the average price fell 1.1% on Tuesday (6 May).

The winning average of $3,950/t (£2,326) was down slightly from three weeks ago, with the total tonnage sold rising 4.4% to 38,174t.

See also: Global Dairy Trade price decline slows

But prices appear to be stabilising, after falling 2.6% at the previous sale, 8.9% at the start of April and by more than one-fifth since early February.

Butter, anhydrous milk fat and rennet casein all returned better prices, with cheddar and butter, skim and whole milk powder all falling again.

Results for individual products were:

• Butter sold at a weighted average price of US$3,892/t (£2,291) and the index was up 1.6%
  
• Cheddar sold at a weighted average price of US$4,195/t (£2,470) and the index was down 1.8%
  
• Anhydrous milk fat sold at a weighted average price of US$4,170/t (£2,456) and the index was up 2.4%
  
• Buttermilk powder sold at a weighted average price of US$3,713/t (£2,186) and the index was down 1.2%
  
• Skim milk powder sold at a weighted average price of US$3,873/t (£2,280) and the index was down 2.3%
  
• Whole milk powder sold at a weighted average price of US$3,928/t (£2,313) and the index was down 1.7%
  
• Rennet casein sold at a weighted average price of US$11,353/t (£6,685) and the index was up 6.8%
  
• No lactose or milk protein concentrate 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 and last month announced it was also offering British buttermilk powder.