Dairy prices have remained steady in the Global Dairy Trade auction - up 0.3 per cent across the board.
Whole milk powder prices - the biggest influencer on Fonterra's farmgate milk price - recorded no change to retain an average US$4,085/MT; while the second biggest "reference" product for Fonterra – skim milk powder – gained 0.6 per cent to an average US$3,367/MT.
The biggest moves came from butter milk powder – up 17.6 per cent to an average US$3,710/MT, and lactose – down 6.5 per cent to an average US$1,307/MT; however both had very little product traded.
Prices for the other main commodity groups all increased, led by cheddar - up 2.2 per cent to an average US$4,393/MT.
Butter followed close behind with a 2.0 per cent lift to an average US$5,776/MT, while anhydrous milk fat rose 0.8 per cent to an average US$6,209/MT.