In the last four Global Dairy auctions, prices fell slightly. This is interpreted as a sign that the production in New Zealand is facing a change of direction. Last year, dairy deliveries to the world's largest exporter of dairy products dropped because it was exceptionally dry in New Zealand. Fonterra's leading company yesterday reported that 2% less milk was delivered to comrades in February, down 5% in January.
The index dropped 0.6% yesterday in the 14-day auction for an average selling price of $ 3,477 / tonne. In the previous auction, the market indicator fell by 1.2%.
Yesterday, 17,222 tons were sold. The amount was thus 7.6% smaller than in the previous season. The next auction is scheduled for the 17th of April.
Text: HANSA Derivatives Trading GmbH / Source: GDT 
