Prices at Fonterra's latest online milk powder auction rose 1.9% overnight.
The rise comes on top of a 16.9% jump at Fonterra's last internet auction on September 2.
The average selling price for all contracts, across all product lines, was US$3663 a tonne.
Gareth,
Can you please explain where the 1.9% rise in milk powder prices of your headline came from?
That was the page I was looking at when I asked the question. In terms of milk powders it gives:
BMP down 6.4%
SMP up 1.0%
WMP up 1.4%
AMF is well up, but that is not a milk powder.
The overall rise is 1.9%.
Prices rose 1.9% to US$3,663 a tonne, based on the gDT-TWI, an index of the four products on offer – whole milk powder, skim milk powder, butter milk powder and anhydrous milk fat.
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