Wednesday, 17 February 2016 08:17

Price slide continues

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Global dairy prices have slumped for the fourth straight time this year.

However, the drop was nowhere near the 5% to 10% predicted by futures market.

This morning's GDT event saw the auction price index down 2.8%.

Whole milk powder, Fonterra's flagship product on GDT, dropped 3.7% to US$1890/MT.

Skim milk powder was down 1.4% to US$1762/MT.

The continuing slide in dairy prices will put further pressure on Fonterra's current farm gate milk price of $4.15/kgMS.

Key Results from the latest GDT auction;

AMF index up 1.5%, average price US$3,527/MT

Butter index down 2.3%, average price US$2,834/MT

BMP index down 1.2%, average price US$1,496/MT

Ched index down 5.6%, average price US$2,535/MT

LAC index unchanged, average price US$574/MT

RenCas index down 11.5%, average price US$3,852/MT

SMP index down 1.4%, average price US$1,762/MT

WMP index down 3.7%, average price US$1,890/MT

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