Average prices paid at today’s Fonterra auction fell by 1.1%, compared with those recorded at the event held on April 15, with an average selling price of $3,950 per tonne.
Although today’s result shows a minimal fall of just over 1%, it comes on the back of six auctions in a row which have seen price falls since February. It is important to note that the auction on the 01 April was also down a significant 8.9% on March figures.
Chedder and butter milk powders were among the products affected by the change in market conditions, with price falls of 1.2% and 1.8% registered respectively.
Source: Global Dairy Trade
The auction represents the sixth consecutive auction, that milk prices have fallen while volumes were up on the previous auction held by New Zealand’s Fonterra Co-operative Group, the world’s biggest dairy exporter. A total of 38,174 tonnes was sold.
GlobalDairyTrade