Scoop has an Ethical Paywall
Work smarter with a Pro licence Learn More

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)

Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Business Headlines | Sci-Tech Headlines

 
GenPro: General Practices Begin Issuing Clause 14 Notices

GenPro has been copied into a rising number of Clause 14 notices issued since the NZNO lodged its Primary Practice Pay Equity Claim against General Practice employers in December 2023.More

SPADA: Screen Industry Unites For Streaming Platform Regulation & Intellectual Property Protections

In an unprecedented international collaboration, representatives of screen producing organisations from around the world have released a joint statement.More

 
 
 
 
 
 
 
 
 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.