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 0.6692 0.0000 0.00%
AUD 0.9312 0.0000 0.00%
EUR 0.6023 0.0000 0.00%
GBP 0.4576 0.0000 0.00%
HKD 5.1986 0.0000 0.00%
JPY 73.7220 0.0000 0.00%

Commods

Commodity Price Change Time
Gold Index 1212.7 -6.530 2016-05-27T00:
Oil Brent 50.0 0.550 2016-05-27T00:
Oil Nymex 49.3 -0.080 2016-05-27T00:
Silver Index 16.3 -0.070 2016-05-27T00:

Indices

Symbol Open High Last %
NZX 50 6948.8 6996.2 6947.9 0.64%
NASDAQ 4904.1 4933.5 4901.8 0.65%
DAX 10257.9 10298.8 10272.7 0.13%
DJI 17826.8 17873.2 17828.3 0.25%
FTSE 6265.6 6275.9 6265.6 0.08%
HKSE 20425.0 20620.2 20397.1 0.88%
NI225 16830.5 16901.1 16772.5 0.37%
ASX 5388.1 5427.7 5388.1 0.33%