Prices rise at year’s final dairy auction

Prices at Fonterra's final online dairy auction for the year rose overnight, though the key export price of whole milk powder continued to slide.

The GDT-TWI Price Index rose 1.1 per cent, with an average winning price of US$3311 per metric tonne. That followed a 2 per cent fall in the previous sale two weeks ago.

Maximum Supply, or the measure of how much dairy product Fonterra has for sale, was 47,540 metric tonnes. A total of 47,195 tonnes was sold.

At last night's auction, three of the eight products categories showed price declines, one wasn't traded, and four rose.

Rennet Casein led gainers, with prices up 6.9 per cent. Whole milk powder, the largest product category by volume, fell 0.6 per cent for a fourth consecutive decline.

The auction saw 195 participants out of 737 qualified bidders take part, with 145 winning bids.

BusinessDay.co.nz