Dairy product prices increase amid outlook for lower supply

Dairy product prices rose at the Global Dairy Trade auction, as whole milk powder increased on the outlook for reduced supply from Fonterra, the world's top dairy exporter.

The GDT price index rose 2.2 per cent from the previous auction two weeks ago to US$3,124 ($4,393). Some 25,400 tonnes of product was sold, down from 29,592 tonnes two weeks ago.

Whole milk powder rallied 4.2 per cent to US$2,886 ($4,059) a tonne.

Skim milk powder gained 1.6 per cent to US$1,699 ($2,389) a tonne, while butter rose 0.6 per cent to US$4,501 ($6,330) a tonne.

Meanwhile, butter milk powder dropped 7.3 per cent to US$1,866 ($2,624) a tonne, while cheddar declined 2.1 per cent to US$3,317 ($4,664) a tonne.

Rennet casein fell 1.1 per cent to US$4,419 ($6,214) a tonne, while anhydrous milk fat slipped 0.2 per cent to US$6,405 ($9,008) a tonne.

More at NZ Herald.

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