Dairy prices slip again

New Zealand's key export product whole milk powder saw a decrease of 1.8% to US$2,386/tonne.

While the average price for skim milk powder, fell 7.5% to US$2,048.

However, butter milk powder and rennet casein had the greatest decreases; butter milk powder dropped 14% to US$1,748, rennet casein was down 11% to US$6,094.

Anhydrous milk fat and butter also fell with drops of 6.3% to US$3,505 and 0.8% to US$3,005 respectively.

Cheddar was the only product to see gains in the auction, with an average rise of 9.1% to US$3,012.

This will be bad news for dairy farmers still reeling after Fonterra lowered its farmgate milk price forecast last week from $4.70 kgMS from $4.50.

Key Prices

AMF index down 6.3%, average price US$3,505/MT

Butter index down 0.8%, average price US$3,005/MT

BMP index down 14.0%, average price US$1,748/MT

Ched index up 9.1%, average price US$3,012/MT

LAC index not available, average price not available

RenCas index down 11.0%, average price US$6,094/MT

SMP index down 7.5%, average price US$2,048/MT

SWP not offered

WMP index down 1.8%, average price US$2,386/MT