Dairy prices finally hit a snag in the latest dairy auction …after reaching a seven-year high two weeks ago things dropped a tad as with the overall index was down 1.5 % to $US4236 per metric tonne The volume was down a thousand tonnes to 30,375. Prices for everything including butter, cheese and skim milk powder all rose…but not Whole milk Powder.
The highlights of the auction:
- Anhydrous milk fat up 0.9 % to $US6,724 per metric tonne
- Butter – up 1% per cent $US5,851
- Cheddar up half a percent $US 5,241
- Lactose up 3.7% to $1,390
- And the powders Skim Milk up 0.6% to $US 3,745
- And Whole Milk down 3.3% to $US 3,867 per metric tonne
That is $NZ5,700. NZX dairy analyst Alex Winning says a drop was bound to happen at one point during the run of upwards prices so the result isn’t that surprising and it is still way above the $3,000 threshold. And despite today’s drop demand for whole milk powder seems steady, with more sold at this auction than the last.