Member access

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 

IFA - Irish Farmers Association : LATEST FONTERRA AUCTION GIVES COMFORT FOR 2014 MILK PRICES

01/23/2014 | 02:25pm US/Eastern
LATEST FONTERRA AUCTION GIVES COMFORT FOR 2014 MILK PRICES

2014-01-23

 IFA National Dairy Committee Chairman Sean O'Leary said this week's Fonterra auction results (+1.4% weighted average price increase) showed continued significant price increases for the majority of dairy products, and a stabilisation in powder prices. 

"Butter and cheddar prices both rose by over 10%, while whey protein concentrate went up 7.2% and casein 4.2%. Powder prices, which had been easing in recent auctions, have stabilised (SMP -0.5%, and WMP -0.1%).  As product involved in this auction is for trade in the next 3 to 6 months, co-ops should be strongly encouraged to hold their milk prices at least past peak," he said.

Commenting on the detailed auction results, Mr O'Leary said: "The continued rise in butter prices in the last few auctions, to a current level of US$4,657, is narrowing the price gap which had existed for most of 2013 between EU and global markets.  As we progress towards the EU seasonal peak, this should help minimise potential EU butter price decreases".

"Co-ops should take significant comfort from this development, and commit publicly to holding current milk price levels at least until after the June peak," he concluded.

distributed by
React to this article
Latest news
Date Title
2m ago TELFORD HOMES : Directorate Change
4m ago SKYE BANK : Court Jails Two for Attempting to Hack Into Bank's System
12m ago TYHEE GOLD : Announces Proposed Revised Non-Brokered Unit Private Placement
12m ago AVIVA : Britain’s over-50s worry most about gift buying but see ‘family time’ as the key to a happy christmas
12m ago FRONTIER COMMUNICATIONS : Achieves Highest Standard of Ethernet Services Certification
15m ago WELLS FARGO : Quicken Loans endures a rough year, rises to No. 2
19m ago IBERDROLA : Ingenieria awarded construction of a CCGT plant in Salem (U.S.)
32m ago WING LEE : Announcements and Notices - Poll Results of the Special General Meeting Held on 17 December 2014
37m ago SOTHEBYS : Painting Great Aries by Togrul Narimanbekov Sold at Sotheby’s
37m ago XVIVO PERFUSION : Decision of the Arbitration Board regarding XVIVO Perfusion’s rights to the Vivoline patents
Latest news
Advertisement
Hot News 
DENDREON : Entry into a Material Definitive Agreement, Change in Directors or Principal Officers, Other Events, Financial Statements and Exhibits (form 8-K)
DIXONS CARPHONE : *exane bnp raises dixons carphone price target to 510 (450) pence - 'outperform'
BERKELEY MINERAL RESOURCES : Obsidian IR
NATURE : Warns 2014 Results To Be "Materially" Below Market View
FINISH LINE : Reports Third Quarter Fiscal Year 2015 Results
Most Read News
4h ago Obama vows U.S. response to North Korea over Sony cyberattack
1d ago SYSCO : Poised to Complete US Foods Deal (Report)
1d ago U.S. labor agency files complaints against McDonald's
1d agoDJBank of Nova Scotia to Buy Citigroup Retail, Commercial Operations in Peru
1d ago KMC KUEI MENG : CNET Exclusive Debut of Leawo Video Converter Ultimate Releases on 18th
Most recommended articles
1h agoDJFlipkart Internet Raises $700 Million in Financing Round
1h ago ECB's Constancio sees negative inflation rate in months ahead-magazine
4h ago Obama vows U.S. response to North Korea over Sony cyberattack
4h ago Japan, South Korea condemn Sony hack; Chinese paper says movie is senseless
1d ago Three air-bag accidents at Boeing plant lead to extra safety measures
Dynamic quotes  
ON
| OFF