The average price of milk in this morning’s globalDairy Trade auction dropped .8% on a Trade Weighted Basis.
The average price for Whole Milk Powder was down slightly (1.2%) to US$3,932 per tonne.
Skim Milk Powder was down 1.4% to US$3,612.
Anhydrous Milk Fat was up 4.4% to US$5,020 per tonne.
The average price for whole milk in Fonterra’s monthly globablDairy Trade auction increased .8% to $3,281 per tonne.
The anhydrous milk fat (AMF) price was down 5.4% to US$3,959 a tonne.
Skim milk powder (SMP), which was included for the first time, sold for $US2,927.
Fonterra chair Sir Henry Van der Heyden said adding SMP is in line with the company’s plans to offer a wider range of products on-line and provide a transparent reference price.