16 Feb 2012

Dairy auction prices down

12:36 pm on 16 February 2012

Dairy prices fell at Fonterra's global dairy auction on Wednesday night.

The global dairy trade weighted price index fell 3% to an average selling price of $US3545 per metric tonne.

Prices fell for almost all products, led by an 11% fall for anhydrous milk fat.

Whole and skim milk powder declined by 3% and 2.6% on average.

Rennet casein went against the trend, lifting by about 1%.

In December, Fonterra lifted its forecast payout to between $6.90 - $7 per kg of milk solids for the current season, citing a modest improvement in dairy product prices at auction.