Dairy prices down

South Waikato News - - FARMING -

Av­er­age dairy com­mod­ity prices have fallen by 1.2 per cent on Fon­terra’s overnight Global Dairy Trade online auc­tion plat­form.

The soft­en­ing fol­lows a slight rise in prices on the last auc­tion a fort­night ago, which was pre­ceded by eight auc­tion price falls.

Fon­terra, New Zealand’s big­gest com­pany, late last month chopped 45c/ kg milk­solids off its fore­cast milk pay­out for the 2011- 2012 sea­son on the back of the price eas­ings.

The pay­out fore­cast now com­prises a milk pay­out of $ 6.30/ kg down from $6.75.

Av­er­age wholemilk pow­der prices fell 0.8 per cent to US$3487 a tonne overnight, while skim milk pow­der was up 0.2 per cent to US$3292.

The an­hy­drous milk fat av­er­age price was down 9.3 per cent to US$3309, the av­er­age but­ter milk pow­der price fell 2.2 per cent to US$2934 and cheese fetched 3.2 per cent less than last auc­tion at US$3406.

There were 149 par­tic­i­pat­ing bid­ders out of 463 qual­i­fied buy­ers.

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