The average auction price dipped by 1.3 per cent this morning.
Fonterra chairman Sir Henry van der Heyden, who is in South America this week, told farmers in an email today that prices had dipped again although he boasted that ”big volumes sold”.
In all 36,722 tonnes of dairy product sold in the overnight auction.
Anhydrous milk fat took the biggest fall, down 7.2 per cent to $4,297 per tonne, with butter butter milk powder taking a 3.3 per cent rise to $3,319 per tonne.
Whole milk powder sold for $3,474 per tonne, down 0.3 per cent, skim milk powder for $3,479 per tonne, down 1.4 per cent, rennet casein was up 1.7 per cent to $5,632/MT and cheese fell 2.3 per cent to $4,220 tonnes.
”NZ exports of Whole Milk Powder up 11 per cent in second quarter of 2011 compared to same time last year.” Sir Henry said.