Milk powder price rise in internet auction reflects stable market

Fonterra's whole milk powder price had risen 0.8 per cent, or $25 a tonne, when the internet auction closed yesterday.

The trading manager, CRA International, said the average price achieved for WMP was US$3281 per tonne.

Paul Grave, the company's global dairy trade manager, said this reflected a relatively stable market over the past four weeks.

"There is still an element of uncertainty as to how supply and demand factors will influence prices over the coming months. Buyers are focused on ensuring their short to medium-term supply requirements have been secured," he said.

For anhydrous milk fat, the average price was US$3959 per tonne.

Skim milk powder was offered for the first time, achieving an average price of US$2927 per tonne.

- © Fairfax NZ News