WMP prices showed stronger gains in earlier contracts 2-4 for delivery from October-December. Fonterra's Contract 2 regular price reached US$2,735/t this auction settling the August WMP Futures contracts at US$2,682.50/t.
SMP prices fell across all contract periods, with its largest falls coming in this contracts due for delivery this year. Fonterra's Contract 2 medium heat price reached US$2,785/t settling the August SMP Futures contracts at US$2,980/t.
Medium heat SMP sourced from Europe offered by Arla and Euroserum traded at a US$35 – 215/t premium to Fonterra's equivalent product in the nearby contract. Meanwhile Amul's offerings traded at US$3,935/t– a more than US$1,000/t premium over Fonterra's product for contracts due for delivery in November.
Anhydrous milkfat (AMF) prices gained 3.6% overall with its largest gains in nearby contracts for delivery this year. Fonterra's Contract 2 regular 210kg drum price reached US$3,535/t settling the August AMF Futures contracts at US$3,467.50.
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