HOT TOPICS:   Euro crisis   |   Mortgage rate cuts  |    Budget 2012

In this section

Offers for readers

The comment stream

Join the Interest community to be a registered commenter so you can:
- Edit your comments
- Avoid the CAPTCHA
- Vote on comments
Register Here

Already registered? log back in here ..

Forgotten your password? No problem! Click here

Finance sector jobs

Senior Liability Underwriting Manager
Lead from the front utilising your strategic, technical and leadership qualities within th...more
New Zealand
Senior Liability Product Underwriter - Product Management
Lead from the front utilising your technical expertise in this highly attractive senior li...more
New Zealand
High Performing Senior Liability UnderwriterHigh Performing Senior Liability Underwriter
Customer focus, high performance, exceeding client expectations and achieving profitable g...more
New Zealand
Manager Operational Effectiveness and Assurance IT
Reporting to the Senior Manager Operational Risk Effectiveness and Assurance, the key focu...more
New Zealand
efinancialcareers.com

Reader poll

Should you fix your mortgage now or stay floating?

Choices

Milk powder price slumps 8.2% in Fonterra internet auction

Posted in News February 4, 2009 - 08:49am, Alex Tarrant

Fonterra announced the average price for whole milk powder at its latest internet auction fell 8.2% from January to US$1,851 per tonne. The average price at the internet auctions has fallen 58% from July, when the auctions began.

"Prices should be very attractive to buyers at these levels, and they are not sustainable for global suppliers," Fonterra's Managing Director of Global Trade Kelvin Wickham said. "Prices remain under pressure due to weak demand. However supply is slowing, inventories are running down and we believe we are in the trough of the market."

The globalDairy Trade auctions, held once a month, have been criticised for leading price declines for dairy commodities. Fonterra has called the criticisms "absolute nonesense."

We welcome your help to improve our coverage of this issue. Any examples or experiences to relate? Any links to other news, data or research to shed more light on this? Any insight or views on what might happen next or what should happen next? Any errors to correct?

We welcome your comments below. If you are not already registered, please register to comment in the box on the right or click on the "'Register" link at the bottom of the comments. Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making these comments.

1 Comments

by Tonz (Japan) | 04 Feb 09, 11:08am

Porkies Kelvin Wickam? Is it

Porkies Kelvin Wickam? Is it the bottom of empty pig trough you are describing? Have you been directed to issue desperate spin ahead of the bond con?

For the sake of NZ and dairy farmers and everyone they suppport I wish I could find your utterances credible......Attractive to buyers maybe but not sustainable if they no longer can afford to buy. The Golden Goose has flown..or have you cooked and eaten the goose?