Prices fell again in the second world dairy trade auction for the new season, down 1.3 percent from the previous event.
Whole milk powder – which has the biggest influence on the Fonterra farm milk price – also fell 1.8 percent to an average of US $ 3,997 / tonne, while skimmed milk powder – Fonterra’s second benchmark product – fell 1.7 percent to an average of US $ 3,356 / MT.
Butter softened 1.7 percent to an average of US $ 4,612 / tonne, while cheddar rose 0.2 percent to an average of US $ 4,328 / tonne.
Buttermilk powder was not offered at this event.
Anhydrous milk fat increased 0.6 percent to an average of US $ 5,687 / tonne, while lactose increased 0.4 percent to an average of US $ 1,240 / tonne.
A total of 21,522 tonnes of product were sold to 160 successful bidders.
Fonterra started the 2021/22 season with an increase ranging from $ 7.30 to $ 7.90 per kg to $ 7.25 to $ 8.75.
The midpoint of the range, on which farmers are paid, also fell from $ 7.60 per kg to $ 8 per kg.
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This notice was published: 2021-06-15 21:30:00