Butter’s dream run continues

At the latest GDT auction, butter prices rose 3.4% over the previous auction to US$6004/tonne.

Overall the GDT auction saw little price movement- the price index was up just 0.2%.

Whole milk powder prices, a major indicator of Fonterra’s milk payout to farmers was up 0.3% to US$3114/tonne. Skim milk powder was down 3.2%.

Key results

AMF index down 0.2%, average price US$6,577/MT

Butter index up 3.4%, average price US$6,004/MT

BMP not offered

Ched index up 1.6%, average price US$4,112/MT

LAC index down 1.8%, average price US$825/MT

RenCas index up 2.4%, average price US$6,358/MT

SMP index down 3.2%, average price US$2,024/MT

WMP index up 0.3%, average price US$3,114/MT