The latest market price monitoring of dairy commodity pricing shows a sharp rise across the board.
The USDA 'Oceania' price series indicates rising prices in US dollars, and with the recent fall in the New Zealand dollar this is translating into a lift in prices in local currency as well.
Milk powders rose the sharpest, with skim milk powder increasing US$275/tonne or +9.4% in the past two weeks, and wholemilk powder prices rising US$225/tonne or +7.8% from mid month.
In NZ$ terms, skimmilk powder prices are up +10.1% and wholemilk powder prices rose +8.5%.
Butter prices rose US$175/tonne, or +6.7% in NZ dollars, while cheddar cheese was up US$150/tonne, or +5.0% in NZ$ terms.
Ironically, these market moves come just days after Fonterra lowered its 2012/13 price forecast, a move that it blamed mainly on the high NZ dollar.
more soon ...
Dairy prices
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5 Comments
Landcorp announces the obvious
http://www.stuff.co.nz/business/7588292/Landcorp-records-sharp-drop-in-…
DC take as long as you like....
Did you see what the coal blokes are saying:
The industry consensus was the market bottom remained “some way off,” CEO Don Elder said last week.
Today Elder said the dive in international coal prices from early July was expected by “virtually nobody”.
The current market downturn could last for a “relatively long” time, he said.
Trading Event 75 was held on Tuesday, 4 September 2012
http://www.globaldairytrade.info/Results.aspx
Number of Qualified Bidders 717 Number of Participating Bidders 203 Number of Winning Bidders 143 Number of Bidding Rounds 16 Duration of Trading Event (hours:mins) 3:14 Minimum Supply (Total MT) 57,185 Maximum Supply (Total MT) 59,235 Quantity Sold (Winning MT) 58,808 Average Winning Price (USD/MT, FAS) $3,174 Change in GDT-TWI™ Price Index from Previous Event 6.0%
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