News | Rural
22 Feb 2018 16:00
NZCity News
NZCity CalculatorReturn to NZCity

  • Start Page
  • Personalise
  • Sport
  • Weather
  • Finance
  • Shopping
  • Jobs
  • Horoscopes
  • Lotto Results
  • Photo Gallery
  • Site Gallery
  • TVNow
  • Dating
  • SearchNZ
  • NZSearch
  • RugbyLeague
  • Make Home
  • About NZCity
  • Contact NZCity
  • Your Privacy
  • Advertising
  • Login
  • Join for Free

  •   Home > News > Rural

    Supply concern lifts dairy auction prices

    Supplier concerns about falling dairy production in NZ have helped lift prices at Fonterra's fortnightly GDT auction.


    Dairy product prices at Fonterra's Global Dairy Trade auction have risen for the third straight time as buyers stocked up in anticipation of easing output.

    The GDT price index climbed 5.9 per cent from the previous auction three weeks ago. The average price was $US3553 ($NZ4974) a tonne. Some 22,197 tonnes of product was sold, down from 23,319 tonnes three weeks ago.

    Whole milk powder rallied 7.6 per cent to $US3226 a tonne.

    "Falling milk production in New Zealand-and revisions to offer volumes-continue to support prices on GDT," Amy Castleton, AgriHQ dairy analyst, said in a note.

    "There were no revisions to whole milk powder volumes ahead of this latest event, but buyers do seem to be more nervous that they will not be able to fulfil their requirements if New Zealand milk production continues to fall."

    Butter milk powder jumped 8.4 per cent to $US2039 a tonne, while butter rose 7.9 per cent to $US5277 a tonne

    Skim milk powder added 7.2 per cent to $US1932 a tonne, while cheddar gained 7.2 per cent to $US3739 a tonne.

    Rennet casein increased 5 per cent to $US4943 a tonne, while anhydrous milk fat rose 0.5 per cent to US$6,581 a tonne.

    "Volumes of skim milk powder and butter had been pulled back ahead of this event," Ms Castleton said.

    "Anhydrous milk fat volumes had been lifted, but there is strong demand for this commodity, which is keeping prices high."

    No prices were available for lactose.

    The New Zealand dollar last traded at US73.08 cents as of 12.14pm in New York, compared with US72.65c at the previous close in Wellington.

    There were 126 winning bidders out of 188 participating at the 15-round auction. The number of qualified bidders rose to 524, up from 517 at the previous auction.


    © 2018 NZN, NZCity

     Other Rural News
     22 Feb: A2 Milk a $10b company, eclipsing Fonterra
     21 Feb: A2 shares jump 25pc on Fonterra deal
     21 Feb: GDT prices slip for first time this year
     20 Feb: Fonterra likely to hike milk payment: OMF
     08 Feb: O'Connor wants broad review of Fonterra
     07 Feb: Kiwi up on back of boost to dairy prices
     22 Jan: NZ shares up as Ryman gains, Fonterra dips
     Top Stories

    Highlanders comfortable with rules changes More...

    A2 Milk a $10b company, eclipsing Fonterra More...

     Today's News

    Mark Wright had a nasty accident at the gym caused by "too many reps" 15:35

    Law and Order:
    Murder charge over body in Wellington car 15:25

    Food barges supply Takaka 15:05

    Law and Order:
    China is cracking down on funeral strippers, but it's a decades-old 'religious practice' in Taiwan 15:05

    Cheryl takes to Twitter thanking everyone who helped fulfil dream opening centre to help disadvantaged youngsters in Newcastle 15:05

    A Fantastic Woman review: Transgender actor Daniela Vega shines in Oscar contender 14:55

    Law and Order:
    Accused calls alleged victims alcoholics 14:55

    Law and Order:
    Fame-seeking may fuel crime: Commissioner 14:35

    Ruth Wilson reveals less pay than Dominic West when pair starred in acclaimed drama series 'The Affair' 14:35

    Door opens for Sodhi in NZ spin department 14:25

     News Search

    Power Search

    © 2018 New Zealand City Ltd