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

 

Dairy product prices rise from two-year low

Dairy product prices rise from two-year low

Sep. 17 (BusinessDesk) - Dairy product prices rose in the latest GlobalDairyTrade auction, inching higher from the lowest level since July 2012, as declines in butter milk powder and cheddar were offset by gains in rennet casein and skim milk powder.

The GDT price index crept higher to US$2,795, up from US$2,787 two weeks ago. Some 50,801 tonnes of product was sold, down from 57,010 tonnes of product two weeks ago.

In the latest GDT auction, rennet casein rose 1.3 percent to US$8,343 a tonne, while skim milk powder gained 0.9 percent US$2,619 a tonne. Whole milk powder added 0.6 percent to US$2,692 a tonne.

Butter milk powder dropped 6.9 percent to US$3,140 a tonne, while cheddar declined 6.5 percent to US$3,077 a tonne.

Butter fell 2.5 percent to US2,698 a tonne, while anhydrous milk fat gave up 2.2 percent to US$3,264 a tonne.

Neither lactose nor sweet whey powder were offered at the event.

The New Zealand dollar traded at 81.52 US cents before the release of the auction results, before climbing as high as 82.30 after the release. The kiwi recently traded at 82.09 US cents.

There were 152 winning bidders out of 191 participating bidders at the 11-round auction. The number of qualified bidders fell to 642, down from 660 at the last auction.

(BusinessDesk)

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Mycoplasma Bovis: More Properties Positive

One of the latest infected properties is in the Hastings district, the other three are within a farming enterprise in Winton. The suspect property is near Ashburton. More>>

ALSO:

Manawatū Gorge Alternative: More Work Needed To Choose Route

“We are currently working closely and in partnership with local councils and other stakeholders to make the right long-term decision. It’s vital we have strong support on the new route as it will represent a very significant long-term investment and it will need to serve the region and the country for decades to come.” More>>

ALSO:

RBNZ: Super Fund Chief To Be New Reserve Bank Governor

Adrian Orr has been appointed as Reserve Bank Governor effective from 27 March 2018, Finance Minister Grant Robertson says. More>>

ALSO:

ScoopPro: Helping PR Professionals Get More Out Of Scoop

Scoop.co.nz has been a fixture of New Zealand’s news and Public Relations infrastructure for over 18 years. However, without the financial assistance of those using Scoop in a professional context in key sectors such as Public Relations and media, Scoop will not be able to continue this service... More>>

Insurance: 2017 Worst Year On Record For Weather-Related Losses

The Insurance Council of New Zealand (ICNZ) announced today that 2017 has been the most expensive year on record for weather-related losses, with a total insured-losses value of more than $242 million. More>>

ALSO: