Dairy commodity prices firmed 1.9 percent overnight at Fonterra's online auction, with the average selling price for all contracts, across all product lines, rising to $US3663 ($NZ5011) a tonne.This followed a sharp rise of 16.9 percent in the last auctio
Dairy commodity prices firmed 1.9 percent overnight at Fonterra's online auction, with the average selling price for all contracts, across all product lines, rising to $US3663 ($NZ5011) a tonne.
This followed a sharp rise of 16.9 percent in the last auction a fortnight ago, which reversed declines over the previous four months.
Prices paid for the core product, whole milkpowder, rose 1.4 percent this morning to $US3602/tonne.
Fonterra directors last month reviewed their forecast payout for 10,500 New Zealand farmers, but left it at $6.90 - $7.10 a kilogram of milksolids, saying there were signs prices would improve later in the year.
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