The GDT-TWI™ firmed by 0.7%. US$4,643/t was the average price achieved for the 38,890 tonnes of product sold.
Anhydrous milkfat (AMF) sold at an average price of US$4645/tonne with prices easing for the nearby contracts and firming in the later contracts. Regular 210kg drums of AMF fetched US$5065/t for September shipments.
Butter prices eased back by 5.7% with Fonterra product trading at US$3680 – $3745/t for September to November deliveries. DairyAmerica's inaugural butter offering fetched US$3660/t for August delivery.
Cheddar prices following the general global market trend down losing 3.7% to trade at an average price of US$4395/t.
Rennet Casein made the biggest gain at the auction, with prices increasing by 7.9% to an average price of US$10,259/t.
Skim milk powder (SMP) prices jumped up by 3.1% to trade at an average price of US$4441/t. The biggest gains in percentage terms were achieved in the later deliver periods. Fonterra's SMP once again traded at a premium to offerings from other companies. Fonterra's September deliveries of Medium Heat SMP reached US$4755/t, up from US$4,585/t from the previous auction. SMP offered by both DairyAmerica and Arla achieved slightly higher prices than at the previous auction with prices ranging from US$4,000 – $4185/t. Meanwhile SMP offered by Amul was priced slightly lower than the previous auction at US$3390 – $3410/t.
Whole milk powder (WMP) price movements were mixed with the net result being a 0.1% increase in prices. The pricing gap between suppliers closed somewhat with Amul achieving better prices for their WMP. Amul's WMP for August and September delivery was priced at US$4265/t and US$4210/t respectively. Fonterra's offerings for the nearby delivery month was priced firm at over US$5300/t. The forward price curve for WMP flattened considerably at prices eased for September and October deliveries and firmed in the later delivery periods.
|
|
Aug |
Sep |
Oct |
Nov |
Dec |
Jan |
|
|
AMF |
n/a |
5135 |
5046 |
4408 |
4370 |
4725 |
4645 |
|
BMP |
n/a |
4575 |
4580 |
4710 |
n/a |
n/a |
4610 |
|
BUTTER |
3660 |
3720 |
3681 |
3745 |
n/a |
n/a |
3707 |
|
CHEDDAR |
n/a |
n/a |
4526 |
4328 |
n/a |
n/a |
4395 |
|
LACTOSE |
n/a |
n/a |
n/a |
n/a |
n/a |
n/a |
n/a |
|
MPC |
n/a |
n/a |
n/a |
n/a |
n/a |
n/a |
n/a |
|
REN CAS |
n/a |
10751 |
10411 |
9612 |
n/a |
n/a |
10259 |
|
SMP |
3875 |
4459 |
4670 |
4492 |
4513 |
n/a |
4441 |
|
WMP |
5287 |
4777 |
4642 |
4645 |
4731 |
4755 |
4757 |
|
gDT-TWI™ |
1489 |
|
|
|
|
|
|
