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

 

Onetai Station: Overseas Investment Office Puts Ceol & Muir On Notice

The Overseas Investment Office (OIO) has issued a formal warning to Ceol & Muir and its owners, Argentinian brothers Rafael and Federico Grozovsky, for failing to provide complete and accurate information when they applied to buy Onetai Station in 2013. More>>

ALSO:

Tomorrow, The UN: Feds President Takes Reins At World Farming Body

Federated Farmers president Dr William Rolleston has been appointed acting president of the World Farmers’ Organisation (WFO) at a meeting in Geneva overnight. More>>

ALSO:

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news