Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Dairy product prices rise 2% in first GDT auction of 2013

Dairy product prices rise 2% in first GDT auction of 2013

By Paul McBeth

Jan. 3 (BusinessDesk) - The price of dairy products rose 2 percent in the first GlobalDairyTrade auction of 2013, recovering losses through the tail-end of last year.

The average winning trade-weighted price increased to US$3,357 per metric tonne from US$3,311/tonne at the Dec. 19 sale. The gains were led by a 4.7 percent boost in skim milk prices to US$3,572 per tonne. Prices for whole milk powder, which typically accounts for more than half the product sold, rose 1.6 percent to US$3,199 per tonne.

The total volume sold was 45,252 tonnes for a total of US$151.9 million across 13 rounds of bidding. That was down from 47,195 tonnes at the last auction.

Last month Fonterra Cooperative Group, which owns the GDT platform, raised its forecast farm-gate payout and chief executive Theo Spierings said he expected dairy prices to rise in the first half of this year due to rising feed prices from unfavourable climatic conditions in the US, South America and Europe.

Anhydrous milk fat prices fell 0.2 percent to US$3,169 per tonne at today's auction, rennet casein prices declined 0.8 percent to US$8,401 per tonne, and cheddar dropped 1.9 percent to US$3,458 a tonne.

The average price of butter milk powder advanced 1.1 percent to US$3,640 a tonne and milk protein concentrate gained 1.4 percent to US$6,122 per tonne. Lactose products haven't been sold at the auction since the Nov. 6 event.

There were 122 winning bidders from 164 participating bidders out of a pool of 743 qualifying bidders.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Tourism: China Southern Airlines To Fly To Christchurch

China Southern Airlines, in partnership with Christchurch Airport and the South Island tourism industry, has announced today it will begin flying directly between Guangzhou, Mainland China and the South Island. More>>

ALSO:

Dodgy: Truck Shops Come Under Scrutiny

Mobile traders, or truck shops, target poorer communities, particularly in Auckland, with non-compliant contracts, steep prices and often lower-quality goods than can be bought at ordinary shops, a Commerce Commission investigation has found. More>>

ALSO:

Auckland Transport: Government, Council Agree On Funding Approach

The government and Auckland Council have reached a detente over transport funding, establishing a one-year, collaborative timetable for decisions on funding for the city's transport infrastructure growth in the next 30 years after the government refused to fund the $2 billion of short and medium-term plans outlined in Auckland's draft Unitary Plan. More>>

ALSO:

Bullish On China Shock: Slumping Equities, Commodities May Continue, But Not A GFC

The biggest selloff in stock markets in at least four years, slumping commodity prices and a surge in Wall Street's fear gauge don't mean the world economy is heading for another global financial crisis, fund managers say. More>>

ALSO:

Real Estate: Investors Driving Up Auckland Housing Risk - RBNZ

The growing presence of investors in Auckland's property market is increasing the risks, and is likely to both amplify the housing cycle and worsen the potential damage from a downturn both to the financial system and the broader economy, said Reserve Bank deputy governor Grant Spencer. More>>

ALSO:

Annual Record: Overseas Visitors Hit 3 Million Milestone

Visitor arrivals to New Zealand surpassed 3 million for the first time in the July 2015 year, Statistics New Zealand said today. The record-breaking 3,002,982 visitors this year was 7 percent higher than the July 2014 year. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news