Global Dairy Trade Auction Sees Another Slip in Prices

In the latest Global Dairy Trade auction, held overnight, prices slipped by another 0.5% across the board. This marks a continued downward trend following a 0.6% decline observed during the previous event just two weeks ago.

Whole milk powder, which significantly influences Fonterra’s farmgate milk price, registered a notable decrease of 2.2%, reaching an average price of US$4061 per metric ton. This follows a marginal 0.2% dip noted two weeks earlier.

In contrast, skim milk powder, Fonterra’s second-largest reference product, saw a slight rebound, rising by 0.6% to an average of US$2744 per metric ton. This comes as a reprieve after the previous event’s 2.5% drop in prices for this product.