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Dairy product prices continue to rise

Dairy prices rose in the fourth straight gain on the GlobalDairyTrade platform, with gains for whole and skim milk powder.

The GDT-TWI Price Index rose 2.4 percent compared to the last sale two weeks ago. The average winning price gained to $US,3249 ($NZ3,930) a metric tonne from US$3,174 a tonne at the last auction.

Whole milk powder rose 2 percent to US$3,036 a tonne and skim milk powder gained 4.7 percent to US$3,339 a tonne.

Global commodity prices has slipped from the six-month high reached after the Federal Reserve announced a third round of quantitative easing last week, based on the Reuters/Jefferies CRB Commodity Index of 19 commonly traded commodities. Still, the kiwi dollar is trading near a five-month high, which trims the value of overseas sales in local currency terms.

In the latest GDT auction, anhydrous milk fat fell 9.8 percent to US$3,199 a tonne and cheddar rose 1 percent to US$3,589 a tonne. Butter milk powder fell 2 percent to US$3,029 a tonne. Lactose wasn’t offered in the latest sale.

Milk protein concentrate fell 3.4 percent to US$5,953 a tonne and rennet casein rose 4.2 percent to US$8,145 a tonne.

– Homepage image / Holindu Abhayagunawardena



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