Dairy trade auction has big gain for fourth time in a row

Fonterra’s farmgate milk price is under pressure. (Image: NZME)

Wed, 18 Oct 2023

Upward pressure has gone on Fonterra’s farmgate milk price after this morning’s Global Dairy Trade auction registered a big gain for the fourth time in a row.There were big price rises in the key products, with whole milk powder firming 4.2% to US$3059/tonne, skim milk powder gaining 4.3% to US$2659/tonne, and anhydrous milk fat jumping by 7.1% to US$5310/tonne.Prices overall were up by 4.3%, despite China – usually the biggest buyer of NZ milk products – not stepping up to a large degree.Fonterra last week raised its 20...

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