Prices were up for skim milk powder (SMP), anhydrous milkfat (AMF) and lactose, but fell for butter, cheddar, rennet casein and whole milk powder (WMP).
WMP prices eased 0.5% overall but were mixed across contract periods, indicating there is some demand for WMP, though it doesn’t appear to be strong enough to boost overall prices, NZX dairy analyst Amy Castleton said.
Both North Asia and South East Asia/Oceania bought more WMP than at the May 5 event.
Butter prices fell 1.9% and unsalted butter to ship in July was down 2.1%.
Fonterra had added extra volumes of WMP and butter – both for the May 19 event and over the next 12 months.
“The extra supply will no doubt have put pressure on prices, as buyers will feel that there is more Oceania product available than previously accounted for, and thus not be willing to pay much more for product now,” Castleton said.
SMP prices jumped 6.7% overall while Anhydrous milkfat lifted 1.6%.
