Fonterra’s Pierre Venter named next vice chancellor of Massey University
The head of Fonterra's R&D facility in Palmerston North is set to literally cross the road and become the new vice chancellor at Massey University.
It is the fifth consecutive fall this year with most products seeing a decrease.
Cheddar saw the biggest drop, down 7.1% with an average price of US$2,745/MT. This was followed by Anhydrous Milk Fat down 4.8% at US$3,337/MT and Skim Milk Powder down by 3.6% to US$1,992/MT.
Butter fell by 3.2%, average price US$2,911/MT.
Whole Milk Powder, a key product for Fonterra also saw a minor drop of 0.5% average price US$2,390/MT, with Rennet Casein down 0.4% to US$6,067/MT.
The two products to gain ground were Butter Milk Powder, up 3.2%, to US$1,930/MT and Lactose up 0.9% to US$580/MT.
Some 26,553 tonnes of product was sold, down from the 27,369 tonnes sold in the May 6 auction two weeks ago.
