Dairy prices rise 2.4% in fourth straight gain

BUSINESSDESK: Dairy prices rose in the fourth straight gain on the GlobalDairyTrade platform, with gains for whole and skim milk powder, the largest products by volume sold.

The GDT-TWI Price Index rose 2.4% compared to the last sale two weeks ago. The average winning price gained to $US3249 a metric tonne from $US3174 a tonne at the last auction. Whole milk powder rose 2% to $US3036 a tonne and skim milk powder gained 4.7% to $US3339.

Global commodity prices has slipped from the six-month high reached after the Federal Reserve announced a third round of quantitative easing last week, based on the Reuters/Jefferies CRB Commodity Index of 19 commonly traded commodities.

Still, the kiwi dollar is trading near a five-month high, which trims the value of overseas sales in local currency terms.

In the latest GDT auction, anhydrous milk fat fell 9.8% to $US3199 a tonne and cheddar rose 1% to $US3589. Butter milk powder fell 2% to $US3029 a tonne. Lactose was not offered in the latest sale.

Milk protein concentrate fell 3.4%t to $US5953 a tonne and rennet casein rose 4.2% to $US8145.

There were 146 winning bidders over 12 rounds. There were 178 participating bidders out of a total number of qualified bidders of 718.


Got a question about this story? Leave it in Comments & Questions below.

This article is tagged with the following keywords. Find out more about MyNBR Tags

Comments & Questions

Commenter icon key: Subscriber Verified

Post New comment or question

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

NZ Market Snapshot

Forex

Sym Price Change
USD 0.7241 0.0000 0.00%
AUD 0.9500 0.0000 0.00%
EUR 0.6450 0.0000 0.00%
GBP 0.5585 0.0000 0.00%
HKD 5.6173 0.0000 0.00%
JPY 73.0760 0.0000 0.00%

Commods

Commodity Price Change Time
Gold Index 1337.5 1.600 2016-09-23T00:
Oil Brent 46.5 -1.730 2016-09-23T00:
Oil Nymex 44.5 -1.790 2016-09-23T00:
Silver Index 19.8 -0.290 2016-09-23T00:

Indices

Symbol Open High Last %
NZX 50 7311.7 7328.2 7311.7 -0.20%
NASDAQ 5327.4 5329.7 5339.5 -0.63%
DAX 10662.5 10675.6 10674.2 -0.44%
DJI 18377.4 18383.8 18392.5 -0.71%
FTSE 6911.4 6920.2 6911.4 -0.03%
HKSE 23836.6 23846.7 23759.8 -0.31%
NI225 16759.8 16808.6 16807.6 -0.32%
ASX 5374.5 5434.3 5374.5 1.06%