Mixed bag results at dairy auction

Although the GDT price index fell 1.4% at the overnight auction, the price for New Zealand's key product, whole milk powder (WMP), rose 0.7%.

The drop comes on the back of two consecutive increases. Overall, prices fell by 1.4% percent to $US2203 a tonne.

But farmers will be happy with the flagship WMP price, which rose to US$2176/tonne.

The latest rise in WMP is the third in a row, although not as solid as the 7.5% lift in the commodity at auction two weeks ago. Farmer returns are largely based on WMP prices.

Key Results

AMF index down 1.6%, average price US$3,195/MT

Butter index down 5.5%, average price US$2,601/MT

BMP index down 5.5%, average price US$1,366/MT

Ched index up 1.8%, average price US$2,727/MT

LAC index down 2.7%, average price US$693/MT

RenCas index up 3.5%, average price US$5,024/MT

SMP index down 3.6%, average price US$1,676/MT

WMP index up 0.7%, average price US$2,176/MT