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

 

Cosmetics & Pollution: Proposal To Ban Microbeads

Cosmetic products containing microbeads will be banned under a proposal announced by the Minister for the Environment today. Marine scientists have been advocating for a ban on the microplastics, which have been found to quickly enter waterways and harm marine life. More>>

ALSO:

NIWA: 2016 New Zealand’s Warmest Year On Record

Annual temperatures were above average (0.51°C to 1.20°C above the annual average) throughout the country, with very few locations observing near average temperatures (within 0.5°C of the annual average) or lower. The year 2016 was the warmest on record for New Zealand, based on NIWA’s seven-station series which begins in 1909. More>>

ALSO:

Farewell 2016: NZ Economy Flies Through 2016's Political Curveballs

Dec. 23 (BusinessDesk) - New Zealand's economy batted away some curly political curveballs of 2016 to end the year on a high note, with its twin planks of a booming construction sector and rampant tourism soon to be joined by a resurgent dairy industry. More>>

ALSO:


NZ Economy: More Growth Than Expected In 3rd Qtr

Dec. 22 (BusinessDesk) - New Zealand's economy grew at a faster pace than expected in the September quarter as a booming construction sector continued to underpin activity, spilling over into related building services, and was bolstered by tourism and transport ... More>>

  • NZ Govt - Solid growth for NZ despite fragile world economy
  • NZ Council of Trade Unions - Government needs to ensure economy raises living standards
  • KiwiRail Goes Deisel: Cans electric trains on partially electrified North Island trunkline

    Dec. 21 (BusinessDesk) – KiwiRail, the state-owned rail and freight operator, said a small fleet of electric trains on New Zealand’s North Island would be phased out over the next two years and replaced with diesel locomotives. More>>

  • KiwiRail - KiwiRail announces fleet decision on North Island line
  • Greens - Ditching electric trains massive step backwards
  • Labour - Bill English turns ‘Think Big’ into ‘Think Backwards’
  • First Union - Train drivers condemn KiwiRail’s return to “dirty diesel”
  • NZ First - KiwiRail Going Backwards for Xmas
  • NIWA: The Year's Top Science Findings

    Since 1972 NIWA has operated a Clean Air Monitoring Station at Baring Head, near Wellington... In June, Baring Head’s carbon dioxide readings officially passed 400 parts per million (ppm), a level last reached more than three million years ago. More>>

    ALSO:

    Get More From Scoop

     
     
     
     
     
     
     
     
    Business
    Search Scoop  
     
     
    Powered by Vodafone
    NZ independent news