16 May 2013

Dairy auction prices down

6:19 am on 16 May 2013

Global dairy prices have fallen for the second consecutive time in Fonterra's fortnightly auction.

The average winning price was $4549 US dollars per metric tonne, a fall of 2.1%.

Butter had the sharpest fall at 12.4% and whole milk powder fell 1.7%.

Rennet Casein was the only product to experience a lift, up 3.7%.

A drop in dairy prices has been expected, as supply begins to pick up after the drought and the market begins to correct itself after the strength of previous auctions.