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.

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

Comment & Question

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 0.7875 0.0043 0.55%
AUD 0.9220 0.0072 0.79%
EUR 0.6298 0.0022 0.35%
GBP 0.4986 0.0004 0.08%
HKD 6.1059 0.0329 0.54%
JPY 92.7430 0.4850 0.53%

Commods

Commodity Price Change Time
Gold Index 1197.1 3.900 2014-11-25T00:
Oil Brent 80.1 -0.140 2014-11-25T00:
Oil Nymex 74.1 -1.660 2014-11-25T00:
Silver Index 16.6 0.170 2014-11-25T00:

Indices

Symbol Open High Last %
NZX 50 5442.7 5465.6 5442.7 0.27%
NASDAQ 4760.2 4781.6 4758.2 0.43%
DAX 9894.6 9942.7 9861.2 0.55%
DJI 17812.2 17831.0 17814.9 -0.08%
FTSE 6731.1 6765.0 6731.1 -0.03%
HKSE 23833.2 24176.6 23843.9 1.12%
NI225 17348.0 17432.6 17407.6 -0.14%