Prices also fell on Fonterra's globalDairy Trade internet auction. There is a bit more sense to that. Japans is New Zealand's fourth largest customer. Prices fell the most for the nearby sales.
On March 4, 2011 Dairy Market News stated:
... supply availability, or lack of, is now driving the market. Often, supplies have been
fully committed early on in the milk production season and manufacturers and handlers are now trying to meet those commitments with minimal volumes of spot availability being reported. International buyers are very active in the marketplace looking for
needed volumes and are having to reach beyond Oceania sources.
New Zealnad's climate authority stated today: "By the end of February soils were very dry in parts of the southern North Island and northern South Island."