March Fonterra auction shows price stability

A "stable" result from Fonterra's online global auction was a good result, reports Paul Grave "globalDairyTrade"  manager. Most interest was on how the first sale of Skim milk powder would feature at auction, in a period where prices have appeared flat. But the result of an average price of US $2927 per tonne was in line with recent sales and reflected a stable price indication in the market.  Buyers seem to focus on the short to medium term with their purchases. Whole milk powder bucked the recent weak trend in prices with a 0.8% ($25/t) rise in value to US$3218 but Anhydrous milk fat fell by 5.4% to US$3959 per tonne. The next auction will be held on April the 6th.