Whole milk powder and other commodities hold steady in latest auction.
Whole milk powder prices remained steady along with prices of other dairy commodities in the latest Global Dairy Trade auction.
Skim milk powder prices slipped 1.8% and butter was down 0.3%, while anhydrous milk fat was up 0.3%.
The largest movements were mozzarella, down 8.2%, and lactose, down 5.8%.
On the positive side, cheddar prices rose by 4.2%.
The GDT price index of all products eased slightly, by 0.3%, and is at a similar position as it was in October 2022.
NZX dairy analyst Rosalind Crickett said the auction was notable for the lack of price volatility.
“We continue to see most products finding a tight price range over the past two months, suggesting buyers aren’t willing to go too much higher from these elevated price levels,” she said.
The New Zealand dairy industry has enjoyed a buoyant season so far and milk production in the other major regions is either flat or showing some decline, year on year.
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