Dairy product prices rise 1.1% in GDT auction, second straight gain

Prices of dairy products rose in Fonterra's latest GlobalDairyTrade auction, the second straight gain on the sales platform.

The GDT-TWI Price Index rose 1.1% compared to the last sale two weeks ago. The average winning price gained to $US3387 a metric tonne. Whole milk powder, the biggest product by volume, fell 2.5% to $US3352 and skim milk powder rose 3.9% to $US3449 a tonne.

The auction comes after the ANZ Commodity Price Index rose for a third straight month in October, with cheese rose 4%, while butter and milk powders was up 3%. Prices also rose in New Zealand dollars as the currency firmed.

The total volume sold rose to 54,106 tonnes from 52,828 tonnes two weeks ago.

Anhydrous milk fat rose 5.3% to $US3026 a tonne and cheddar gained 2.5% to US$3,037. Butter milk powder climbed 7.3% to 4US3510 and lactose rose 1% to $US2018.

Milk protein concentrate climbed 0.5% to $US6159 a tonne and rennet casein gained 9% to $US7912.

There were 136 winning bidders over 13 rounds. There were 184 participating bidders out of a total number of qualified bidders of 725.

(BusinessDesk)


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 0.6601 -0.0016 -0.24%
AUD 0.9359 0.0011 0.12%
EUR 0.5897 -0.0011 -0.19%
GBP 0.4579 -0.0006 -0.13%
HKD 5.1443 -0.0107 -0.21%
JPY 76.0940 -0.3760 -0.49%

Commods

Commodity Price Change Time
Gold Index 1188.8 31.140 2016-02-08T00:
Oil Brent 33.6 -1.160 2016-02-08T00:
Oil Nymex 31.6 0.810 2016-02-08T00:
Silver Index 15.4 0.650 2016-02-08T00:

Indices

Symbol Open High Last %
NZX 50 6153.8 6153.8 6153.8 -1.29%
NASDAQ 4288.0 4301.5 4363.1 -1.82%
DAX 9329.9 9337.5 9286.2 -3.30%
DJI 16147.5 16147.5 16205.0 -1.10%
FTSE 5848.1 5882.4 5848.1 -2.71%
HKSE 19287.4 19397.9 19183.1 0.55%
NI225 16666.8 16668.7 17004.3 -4.18%