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Source: Reuters -
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The average price for whole milk powder (WMP) rose 0.8%, or $US25 ($NZ36) per tonne in Fonterra's internet-based auction on Wednesday morning, compared with last month's auction.
The average price across all contracts and contract periods for WMP was US$3,281 per tonne with prices ranging from US$3,180 to US$3,395.
Fonterra's global dairy trade manager Paul Grave says this was a pleasing result that reflected a relatively stable market over the last four weeks.
"There is still an element of uncertainty as to how supply and demand factors will influence prices over the coming months," Grave says.
For anhydrous milk fat (AMF), the average price across all contracts and contract periods was $US3,959 per tonne.
This was US$224 per tonne, or 5.4%, lower than the February event.
The event included sales of Skim Milk Powder (SMP) for the first time.
For SMP, the average price achieved across all contracts and contract periods was US$2,927 per tonne.
