Dairy prices slip at Fonterra auction
Dairy commodity prices slipped at Fonterra's overnight online auction, with the GlobalDairyTrade trade weighted index falling 1.1 percent.
Dairy commodity prices slipped at Fonterra's overnight online auction, with the GlobalDairyTrade trade weighted index falling 1.1 percent.
Despite the fall in the index, the average winning price at the overnight event rose to $US4443 ($NZ5670) from $US4367 a fortnight ago.
The trade weighted price for anhydrous milk fat fell 5.8 percent with the average winning price at $US5340, skim milk powder fell 1.5 percent with the average price at $US3824, while whole milk powder edged up 0.1 percent with the price of $US3863.
BNZ strategist Kymberly Martin said the result showed continued consolidation at elevated levels, and left dairy prices 16 percent higher than at the end of last year.
"The price for NZ's main commodity appears to be holding up better than broad global commodity prices."
NZPA
Wed, 18 May 2011
Wed, 18 May 2011
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Dairy prices slip at Fonterra auction
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