Small fall in dairy price

The contaminated whey scare did not had the disastrous impact on last night’s GlobalDairyTrade auction that many had feared.

The trade weighted price dropped only 2.4% which isn’t a big change in comparison to others this year.

GDT Trade Weighted Index Changes

gdt7813

Rennet casein was the only product to increase in price (1.2%)  but whole milk powder, on which the payout is largely based, was down only 1.6% .

The price of anhydrous milk fat dropped 4.9%; butter dropped 5.5%; butter milk was down 0.4%; cheddar was down 4.4%; and skim milk powder fell 3%.

Prices are still well above the long-term average and the relatively small fall in the trade weighted index indicates that customers still trust Fonterra’s products.

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