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

 


Dairy product prices drop, falling 4.2%

Dairy product prices drop, falling 4.2%

June 4 (BusinessDesk) - Dairy product prices continued their drop to the lowest level since February 2013 in the latest GlobalDairyTrade auction, paced by rennet casein and whole milk powder.

The GDT price index dropped 4.2 percent to US$3,756 a tonne, the eighth consecutive drop and the lowest since February 2013. Some 37,012 tonnes of product was sold, up from 33,677 two weeks ago.

In the latest GDT auction, rennet casein slumped 10.2 percent to US$10,672 a tonne, and whole milk powder sank 8.5 percent to US$3,594 a tonne. Anhydrous milk fat slid 5.0 percent to US$4,058, while Butter milk powder fell 1.9 percent to US$3,628 a tonne.

Butter was unchanged at US$3,634 a tonne.

Cheddar climbed 8.0 percent to US$4,236 a tonne, while skim milk powder rose 2.1 percent to US$3,863 a tonne.

Milk protein concentrate and lactose weren't offered at the event.

The New Zealand dollar was trading at 84.60 US cents at 2:34am Auckland time. After the release of the latest GDT data, the kiwi dropped as low as 84.25 cents and was recently trading at 84.30 cents.

There were 144 winning bidders out of 195 participating bidders at the auction over 13 rounds. The number of qualified bidders was 738, up from 734 two weeks ago.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Royal Society: Review Finds Community Water Fluoridation Safe And Effective

A review of the scientific evidence for and against the efficacy and safety of fluoridation of public water supplies has found that the levels of fluoridation used in New Zealand create no health risks and provide protection against tooth decay. More>>

ALSO:

Scoop Business: Croxley Calls Time On NZ Production In Face Of Cheap Imports

Croxley Stationery, whose stationery brands include Olympic, Warwick and Collins, plans to cease manufacturing in New Zealand because it has struggled to compete with lower-cost imports in a market where the printed word is giving way to electronic communications. More>>

ALSO:

Prefu Roundup: Forecasts Revised, Surplus Intact

The National government heads into the election with its Budget surplus target broadly intact, delivering a set of economic and fiscal forecasts marginally revised from May to reflect weaker commodity prices and a lower tax take. More>>

ALSO:

Convention Centre: Major New SkyCity Hotel And Laneway For Auckland

Today SKYCITY Entertainment Group Limited revealed plans to build a new hotel and pedestrian laneway of bars, restaurants and boutique shopping on land it owns in the Nelson and Hobson Streets block, expanding the SKYCITY Entertainment Precinct. More>>

ALSO:

Igniting The Spark: Bringing The Digital Enabler To Life

Changing a name is, relatively speaking, the easy part of a re-invention. Changing a culture, getting all the ducks in a row, turning yourself inside-out to become customer-inspired is a much bigger challenge. More>>

ALSO:

Ebola And NZ: Targeted Screening At Airport But Risk Low

The risk of any cases of Ebola in New Zealand remains very low, but health and border authorities are well prepared... anyone arriving in New Zealand who in the last three weeks has visited countries affected will be screened for symptoms of the disease. More>>

ALSO:

Scoop Business: Brewer Seeking Crowd-Funding Cancels Shareholders’ Dividends

Shareholders in Renaissance Brewing company, the first business to seek equity through crowd-funding in New Zealand, have cancelled their claim on $147,000 of accumulated earnings “to make Renaissance a more attractive investment opportunity.” More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

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