Prices rise again at Global Dairy Trade auction
Fonterra’s Global Dairy Trade for dairy products saw prices rise by 1.0% in the latest auction, which took place today (Tuesday).
The rise comes following Fonterra’s last dairy trade auction before Christmas also showed a increase of 3.6% in the overall auction index. The last three 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 3.8% on the previous auction. WMP averaged $2,402/tonne across all contracts.
At the auction the average weighted butter price was up 0.1% from the last auction when it rose in price by a significant 13.8%, butter averaged $3,564/tonne at today’s auction.
The previous trading, in early January, was up 3.6%.The next trading event is February 03.
(See below prices for dairy products at today’s auction)
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