Tuesday, July 6, 2010

Fonterra's Latest Auction

(click on image to enlarge)

As you can see from above all product prices in Fonterra's globalDairy auction fell.

Today, on the CME grade A NFDM lost tow cents to close at $1.21/lb. For comparison, the average Fonterra auction price for SMP was $1.39 per pound.

We continue to be way below world prices. How long ago were we told we need to produce at world prices?

1 comment:

  1. I got a tip fr4om a fairly reliable source in the NFDM business that they expect the powder price to nosedive soon. These world price declines may be a reflection of that or it just may be a ploy by Fonterra and others to drive the milk price down.