"Our" business?
OPINION: One particular bone the Hound has been gnawing on for years now is how the chattering classes want it both ways when it comes to the success of NZ's dairy industry.
The auction saw a price decline for almost all products offered.
Fonterra’s key product whole milk powder dropped 3.1% to US$2,309/MT, while skim milk powder declined 1.3% to US$1,982/MT.
However, butter saw the biggest decline dropping 10% to an average price of US$2,619/MT.
Large declines were also seen for anhydrous milk fat and butter milk powder, which fell 7.4% (US$3,112/MT) and 7% (US$1,795/MT) respectively.
Lactose and rennet casein also fell, with lactose down 6.9% to US$540/MT and rennet casein dropping 4.4% to US$5,789/MT.
Some 27,111 tonnes of product was traded, 4.4% more than at the previous auction.
