18 Jan 2012

Prices edge up at Fonterra dairy auction

8:56 am on 18 January 2012

Dairy prices have risen slightly at Fonterra's latest online auction.

The dairy cooperative's Global Dairy Trade-Weighted Price Index rose 1.5% to an average selling price of $US3701 a metric tonne at Wednesday's auction

The rise follows two consecutive falls.

Prices for skim milk powder and anhydrous milk fat rose almost 3% while whole milk powder prices were unchanged.

Buttermilk powder prices fell more than 4%.

Late last year, Fonterra lifted its forecast payout to $6.90 - $7 per kilogram of milk solids for the current season, citing a modest improvement in auction dairy product prices.