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The Global Dairy Trade auction index fell 1.6% to $3,343 per tonne. Whole milk powder rose 1.3% to $3,155 per tonne, while the auction followed a 0.2% rise at the previous event.
Fonterra had recently lifted its forecast milk price to NZ$6.75 per kilogram of milk solids.
Mixed auction moves leave the global dairy index near current levels, so the price signal for milk is largely neutral with firmer powder demand offsetting fat weakness.
rnz.co.nzTe Reo Irirangi o AotearoaAug 1, 2017Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
