Price for dairy prod­ucts up at auc­tion

South Waikato News - - RURAL DELIVERY -

Prices on Fon­terra’s glob­alDairyTrade in­ter­net auc­tion were up 1.2 per cent last week on the last auc­tion a fort­night ear­lier.

The av­er­age price for an­hy­drous milk fat, but­ter milk pow­der, skim milk pow­der and whole milk pow­der was US$3,960 a tonne.

The rise fol­lows a 7.1 per cent rise at the last auc­tion en­cour­aged by drought ham­per­ing dairy farm­ers in New Zealand and farm­ers strug­gling against snow­storms in Bri­tain and the United States.

In all 130 of the 310 qual­i­fied bid­ders took part in the lat­est auc­tion over nine rounds, win­ning 88 bids.

The auc­tion lasted 1 hour and 49 min­utes.

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