Prices down 8.9% at Fonterra auction
Average prices paid at today’s Fonterra dairy auction fell by 8.9%, compared with those recorded at the event held on July 1, with an average selling price of $3,309 per tonne.
Today’s result comes on the back of a 4.9% fall at the last auction, prior to that nine of the last 10 auctions in a row have seen price falls since February. It is important to note that today’s auction is the most significant fall since April 1 where the trade was also down over 8% on March figures.
Whole milk powder and Anhydrous Milk Fat were among the products affected by the change in market conditions, with price falls of 10.9% and 10% registered respectively.