Fonterra’s Global Dairy Trade for dairy products saw prices rise by 10.1% in the latest auction, which took place today (Tuesday).
The rise comes following Fonterra’s last dairy trade auction in early February also showing an increase of 9.4% in the overall auction index.
The last five GDT auctions have now yielded a positive result.
Recent auctions have been much more positive result for dairy products than seen at previous Fonterra auctions held since last summer.
All products traded showed an increase in price index compared to the previous auction with key product Whole Milk Powder (WMP) prices up 13.7% on the previous auction. WMP averaged $3,272/tonne across all contracts.
At the auction the average weighted butter price was up 1.1% from the last auction, butter averaged $3,823/tonne at today’s auction.
The previous trading, in early February, was up 9.4%.The next trading event in early March.
- AMF index up 6.4%, average price US$4,314/MT
- Butter index up 1.1%, average price US$3,823/MT
- BMP index up 1.9%, average price US$2,674/MT
- Ched index up 16.8%, average price US$3,054/MT
- LAC not offered
- RenCas index up 1.2%, average price US$8,897/MT
- SMP index up 5.7%, average price US$2,744/MT
- SWP index not available, average price not available
- WMP index up 13.7%, average price US$3,272/MT