Average prices paid at yesterday’s Fonterra auction fell by 2.6%, compared with those recorded at the event held on 01 April, with an average selling price of $4,047 per tonne.
However it is important to note that the auction on the 01 April was also down a significant 8.9% on March figures.
Butter and butter milk powders were amongst the products affected by the change in market conditions, with price falls of 4.9% and 8.6% registered respectively.
The auction represents the fifth consecutive auction, that milk prices have fallen while volumes also dropped in the latest sale held by New Zealand’s Fonterra Co-operative Group, the world’s biggest dairy exporter.
A total of 36,549 tonnes was sold, falling 7.8% on the previous auction, the co-operative said on its website.