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

 


Dairy product prices fall 0.8% in first GDT auction of 2014

Dairy product prices fall 0.8% in first GDT auction of 2014, led by skim milk powder

Jan. 8 (BusinessDesk) - Dairy product prices fell in the first GlobalDairyTrade auction for 2014, led by skim milk powder while rennet casein made a new record high.

The GDT Price Index dropped 0.8 percent compared to the last sale two weeks ago. The average winning price was US$4,943 a tonne, still an elevated level, from US$4,990 a tonne.

Skim milk powder fell 3.4 percent to US$4,688 a tonne and whole milk powder, the biggest product by volume, fell 0.6 percent to US$4,934 a tonne

The average winning price of rennet casein, a functional ingredient used in everything from sliced cheeses to products that can be whipped or foamed, rose 1.1 percent to US$11,903 a tonne, having jumped 7.3 percent and 18.9 percent in the past two auctions respectively. Cheddar rose 1.9 percent to US$4,656 a tonne.

The total volume of dairy products sold at the latest GDT auction fell to 46,418 tonnes from 47,858 tonnes in the previous auction.

The price of anhydrous milk fat fell 1.8 percent to US$5,538 a tonne and butter rose 5.1 percent to US$4,223 a tonne, the highest average price since May last year. Butter milk powder gained 0.5 percent to US$4,539 a tonne.

Milk protein concentrate rose 5.2 percent to US$9,010 a tonne and lactose rose 5.8 percent to US$1,826 a tonne.

There were 152 winning bidders over 12 rounds. There were 208 participating bidders out of a total number of qualified bidders of 828.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business: RBNZ Keeps OCR At 3.5%, Signals Slower Pace Of Future Hikes

Reserve Bank governor Graeme Wheeler kept the official cash rate at 3.5 percent and signalled he won’t be as aggressive with future rate hikes as previously thought as inflation remains tamer than expected. The kiwi dollar fell to a seven-month low. More>>

ALSO:

Weather: Dry Spells Take Hold In South Island

Many areas in the South Island are tracking towards record dry spells as relatively warm, dry weather that began in mid-August continues... for some South Island places, the current period of fine weather is quite rare. More>>

ALSO:

Scoop Business: Productivity Commission To Look At Housing Land Supply

The Productivity Commission is to expand on its housing affordability report with an investigation into improving land supply and development capacity, particularly in areas with strong population growth. More>>

ALSO:

Forestry: Man Charged After 2013 Death

Levin Police have arrested and charged a man with manslaughter in relation to the death of Lincoln Kidd who was killed during a tree felling operation on 19 December 2013. More>>

ALSO:

Smells Like Justice: Dairy Company Fined Over Odour

Dairy company fined over odour Dairy supply company Open Country Dairy Limited has been convicted and fined more than $35,000 for discharging objectionable odour from its Waharoa factory at the time of last year’s ”spring flush” when milk supply was high. More>>

Scoop Business: Dairy Product Prices Decline To Lowest Since July 2012

Dairy product prices dropped to the lowest level since July 2012 in the latest GlobalDairyTrade auction, led by a slump in rennet casein and butter milk powder. More>>

ALSO:

SOE Results: TVNZ Lifts Annual Profit 25% On Flat Ad Revenue, Quits Igloo

Television New Zealand, the state-owned broadcaster, lifted annual profit 25 percent, ahead of forecast and despite a dip in advertising revenue, while quitting its stake in the pay-TV Igloo joint venture with Sky Network Television. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news