Prices fall again in global dairy trade event
Prices at Fonterra's internet auction on July 6 were down an average of 13.7 percent, after falling 3.5 percent in June.
In the latest globalDairyTrade trading event, average prices across all contracts and contract periods were as follows:
Anhydrous milk fat (AMF), at US$4620/t, was down 14.1 percent.
Skim milkpowder (SMP), at US$3067/t, was down 11.8 percent.
Whole milkpowder (WMP), at US$3224/t, was down 14.8 percent.
Paul Grave, globalDairyTrade manager, said the result reflected supply increasing globally in response to what has been a very strong price signal over recent months.
Concerns in the market about short-term product availability, which to a large extent underpinned recent high prices, appear to have eased.
The next globalDairyTrade trading event will be held on 4 August 2010.
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