Note: This section contains information in English only."As we head towards the end of our milk production season the volume of product that is available for sale falls away which is supportive of prices."
— Susan Kilsby, AgriHQ
[ANNOUNCE]Dairy prices rose for the fifth consecutive time at the latest auction in New Zealand, pointing to a solid recovery. [/ANNOUNCE]The Global Dairy Trade Price Index climbed 3.2% to an average selling price of $3,313 per tonne after rising 3.6% at the prior GDT auction. Analysts suggested that the 50% price rebound during the past year could be temporary; however, the fifth straight rise erased their doubts over the market's ability to maintain gains. The price of whole milk powder advanced 1.3% to $3,312 per tonne, the butter price surged 11.2% to $5,479 per tonne, whereas prices of anhydrous milk fat jumped 8.2% to $6,631 per tonne. Meanwhile, the butter milk powder price rose 7% to $1,980 per tonne. Prices of lactose, skim milk powder and cheddar climbed 2%, 1% and 0.6%, respectively. According to analysts, the strong price rebound was mainly driven by tightening milk supplies. Later in the day, Statistics New Zealand reported that its Producer Price Index rose 0.8% in the March quarter, following the prior quarter's gain of 1.0% and topping analysts' expectations for a 0.7% increase.
Wed, 17 May 2017 08:26:17 GMT
Source: Dukascopy Bank SA
— Susan Kilsby, AgriHQ
[ANNOUNCE]Dairy prices rose for the fifth consecutive time at the latest auction in New Zealand, pointing to a solid recovery. [/ANNOUNCE]The Global Dairy Trade Price Index climbed 3.2% to an average selling price of $3,313 per tonne after rising 3.6% at the prior GDT auction. Analysts suggested that the 50% price rebound during the past year could be temporary; however, the fifth straight rise erased their doubts over the market's ability to maintain gains. The price of whole milk powder advanced 1.3% to $3,312 per tonne, the butter price surged 11.2% to $5,479 per tonne, whereas prices of anhydrous milk fat jumped 8.2% to $6,631 per tonne. Meanwhile, the butter milk powder price rose 7% to $1,980 per tonne. Prices of lactose, skim milk powder and cheddar climbed 2%, 1% and 0.6%, respectively. According to analysts, the strong price rebound was mainly driven by tightening milk supplies. Later in the day, Statistics New Zealand reported that its Producer Price Index rose 0.8% in the March quarter, following the prior quarter's gain of 1.0% and topping analysts' expectations for a 0.7% increase.