7 Feb 2013

Milk prices up in auction despite DCD discovery

8:44 am on 7 February 2013

The discovery of the agrichemical DCD in New Zealand milk did not impact negatively on Fonterra's Global DairyTrade auction this week.

In the first auction since the contaminated milk find was made public, prices rose by an average of 2.4%.

Among the key movers were whole milk powder, up 5.4%, anhydrous milk up 7.2% and buttermilk powder, up 3.7%.

The New Zealand dairy cooperative had moved to reassure buyers before the auction that its milk for sale was DCD-free.

In a statement posted on the GlobalDairyTrade website, Fonterra said none of the milk for sale at this week's auction was produced during the periods in which minute traces of DCD were found.