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

 


Dairy product prices up 1.1 percent in GDT auction

Dairy product prices up 1.1 percent in GDT auction

Jan. 17 (BusinessDesk) - Prices of dairy products rose in Fonterra's latest GlobalDairyTrade auction, the third straight increase since a drop in early December, led by whole milk powder and anhydrous milk fat.

The GDT-TWI Price Index rose 1.1 percent compared to the last sale two weeks ago. The average winning price rose to US$3,442 a metric tonne. Whole milk powder, the biggest product by volume, was up to 2.8 percent on the average of all contracts offered to US$3,288 a tonne and AMF rose 2.4 percent to US$3,253 a tonne.

The sale comes ahead of next Monday's debut inclusion of the Fonterra Shareholders' Fund in the NZX 50 Index. The units have been climbing in anticipation of that event, up from $7.31 to $7.49 since last week's announcement, closing yesterday at a new record of $7.49.

Today's sales give unitholders an update on global pricing of Fonterra's products and may be reflected in the units when they resume trading today on the NZX and ASX.

The total volume sold was 40,418 tonnes from 45,252 tonnes a fortnight ago.
There were significant falls in prices for butter milk powder, down 6.5 percent to US$3,405 per tonne, and milk protein concentrate, down 2 percent to US$5,995 per tonne.

Rennet casein rose 0.8 percent to US$8,479 a tonne and cheddar was up 0.9 percent to US$3,496 a tonne. Skim milk powder fell 0.3 percent to US$3,552 a tonne.

There were 144 winning bidders over 12 rounds. There were 202 participating bidders out of a total number of qualified bidders of 748.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Warming: Warming Signs From State Of Climate Report

Climate data from air, land, sea and ice in 2013 'reflect trends of a warming planet' -- says the latest State of the Climate report, launched by U.S. and New Zealand scientists. More>>

ALSO:

Scoop Business: Embrace Falling Home Affordability, Says NZIER

Despair over the inability to afford a house is misplaced and should be embraced as an opportunity to invest in more wealth-creating activity, says the principal economist at the New Zealand Institute of Economic Research, Shamubeel Eaqub. More>>

Productivity Commission: NZ Regulation Not Keeping Pace

New Zealand regulators often have to work with out-of-date legislation, quality checks are under strain, and regulatory workers need better training and development. More>>

ALSO:

Callaghan Innovation: Investment To Help Deepen Innovation Reporting

Callaghan Innovation, the government’s high tech HQ for Kiwi business, is to help deepen New Zealand media coverage of the commercialisation of innovation through an arms-length partnership with independent business news service BusinessDesk. More>>

ALSO:

Tax Credits, Grants: Greens $1Bn R&D Plan

In the Party’s headline economic announcement, the Greens have launched their plan to build a smarter, more innovative economy which has as its centrepiece an additional $1 billion of government investment in research and development (R&D) above current spend, including tax breaks for business. More>>

ALSO:

Inflation: CPI Increases 0.3 Percent In June Quarter

The consumers price index (CPI) rose 0.3 percent in the June 2014 quarter, Statistics New Zealand said today. This follows rises of 0.3 percent the March quarter and 0.1 percent in the December 2013 quarter. More>>

ALSO:

Half Empty: Dairy Product Prices Drop To Lowest Since December 2012

Dairy product prices fell to the lowest level since December 2012 in the latest GlobalDairyTrade auction, paced by whole milk powder and anhydrous milk fat. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news