Fonterra milk prices on the up

The National Business Review has a story about how Fonterra’s milk powder prices on its online auction are up 5.7%  or $US3022 a tonne from last month.

Again, the high Kiwi dollar wipped out most of the gain.

The NBR’s story includes comment from Fonterra Global Trade managing director Kelvin Wickham:

Whole milk powder prices surged further on the back of Fonterra’s latest online auction early this morning.

Prices averaged $US3022 a tonne, up 5.7% against last month’s trading event.

This flies in the face of global analyst predictions last month that forecast a drop in the average price which has climbed about 65% since July. CLICK HERE to read more.

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