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

 


Dairy product prices gain 0.5% in GDT auction, led by butter

Dairy product prices gain 0.5% in GDT auction, led by butter, whole milk powder

Feb. 5 (BusinessDesk) - Dairy product prices rose in the second GlobalDairyTrade auction in a row, led by butter and whole milk powder, while volumes continued to retreat.

The GDT Price Index increased 0.5 percent from the last sale two weeks ago. The average winning price was US$5,042 a tonne from US$5,025 per tonne at the last auction. Some 35,399 tonnes of product was sold, the lowest since June last year and down from 41,024 tonnes in the previous sale.

Butter rose 2.6 percent to US$4,745 a tonne to the highest in at least a year, having jumped almost 11 percent in the last auction. Whole milk powder, the biggest product sold by volume, rose 1.4 percent to US$5,005 a tonne.

The auction results come after the ANZ Commodity Price Index rose 1.2 percent to a record in January, with butter leading the gains, up 4 percent from December and up 33 percent from the same month last year.

Among other products at the GDT auction, cheddar fell 4.3 percent to US$4,935 a tonne and milk protein concentrate fell 3.3 percent to US$9,334 a tonne.

Rennet casein declined 3.7 percent to US$11,876 per tonne, butter milk powder dropped 1.2 percent to US$4,775 per tonne, and anhydrous milk fat fell 1.2 percent to US$5,569 a tonne. Skim milk powder was unchanged at US$4,746 a tonne.

There were 124 winning bidders at the auction over 12 rounds. There were 185 participating bidders out of a total number of qualified bidders of 788.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Errors Found: Electricity Authority Dumps Transmission Pricing Modelling

The Electricity Authority is ditching the cost-benefit analysis at the heart of its controversial attempt to find a new way to divide up costs for the national grid after finding an expanding range of serious computational errors in the work by Australian consultancy Oakley Greenwood. More>>

ALSO:

New Record: Migrant Arrivals At 129,500 A Year

Annual net migration has been steadily increasing since 2012. "This was mainly due to the rising number of migrant arrivals to New Zealand," population statistics senior manager Peter Dolan said. "Fewer migrant departures also contributed to the increase in net migration." More>>

ALSO:

Launched: NASA's Super Pressure Balloon Takes Flight From NZ

NASA successfully launched its football-stadium-sized, heavy-lift super pressure balloon (SPB) from Wanaka, New Zealand, at10:50 a.m. Tuesday, April 25 (6:50 p.m. April 24 in U.S. Eastern Time), on a mission designed to run 100 or more days floating at 110,000 feet (33.5 km) about the globe in the southern hemisphere's mid-latitude band. More>>

ALSO:

Trade Agreements: TPP Minus US Starting To Gain Ground

The Japanese government is picking up the pace on reviving the Trans-Pacific Partnership trade and investment deal, with talks scheduled next month among the 11 countries left in the pact after the withdrawal by the US after the election of president Donald Trump. More>>

ALSO:

PACER:

Prices Up 2.2%: Annual Inflation Highest In Over Five Years

"Rising petrol prices along with the annual rise in cigarette and tobacco tax lifted inflation," prices senior manager Jason Attewell said. "Petrol prices in New Zealand are closely linked to global oil prices, and cigarettes and tobacco taxes rise in the March quarter each year". More>>

ALSO:

Undertaxed? NZ Income Tax Rate Second Lowest Among Developed Nations

New Zealand workers pay the second smallest portion of their income to the government among developed nations and less than half the average ratio of their Organisation for Economic Cooperation and Development peers. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news