The June 2 event on Fonterra’s Global Dairy Trade platform yielded mixed results with powder categories rising while butterfat-laden products fell.
The biggest increases were seen in buttermilk powder (up 9.4 percent) and whole milk powder that rose 2.1 percent. Skim milk powder was basically flat off only a modest -0.5 percent compared to last event two weeks ago.
Declines were seen in most other categories such as anhydrous milkfat (down 2.9 percent), butter (down 4.4 percent), cheddar (down 5.3 percent) and lactose (down 4.1 percent).
On the trade-weighted index on nearly 22,000 MT of products offered, the event’s aggregate result was essentially flat at +0.1 percent. Year-to-date auction results have seen an 11 percent decline in prices overall as COVID-19 has spread around the world and stalled global economies.
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