June 4, 2014

Global dairy trade falls 4.2%

Average prices paid at today's Fonterra dairy auction fell by 4.2%, compared with those recorded at the event held on May 20, with an average selling price of $3,756 per tonne.

Albeit just a minimal fall of just over 4%, it comes on the back of eight auctions in a row, which have seen price falls since February. Today's auction is the most significant fall since 1 April where the trade was also down a significant 8.9% on March figures.

Whole milk powder and cheddar were among the products affected by the change in market conditions, with price falls of 8.5% and 8% registered respectively.