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
Recommend:
0
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
Recommend :
0
React to this article
Latest news
Date Title
1m ago Acquisition of Shares of Macarthur Minerals Limited
2m ago MEMO TO HERBALIFE : Bill Ackman Will Make This An Extracurricular Activity If He Has To
2m ago BARCLAYS : Attorney General Not Sophisticated Enough To Understand How Our Dark Pools Work
3m ago ATLANTIA : Heaviest holiday traffic forecast for August 9
5m ago France Stakes Claim Its Share Of UBS's Legal Reserve
5m ago MORE TOP 100 NIELSEN AUDIO NUMBERS : Attention called to radio’s clout & value
5m ago WOLFSON MICROELECTRONICS : Updated Rule 2.10 Announcement
5m ago WOLFSON MICROELECTRONICS : Form 8.3 - WOLFSON MICROELECTRONICS
5m ago WOLFSON MICROELECTRONICS : Form 8.5 (EPT/RI) - Wolfson Microelectronics Plc
5m ago WOLFSON MICROELECTRONICS : Form 8.5 (EPT/RI)-Wolfson Microelectronics Plc
Latest news
Advertisement
Hot News 
MAPLE ENERGY : Shares Double As It Is Approached For Possible Takeover
INDIGOVISION : Technology Expo to tour Australia in July
BYOTROL : Grant of Options 24th Jul 2014
SYLVANIA PLATINUM : Q4 Results
LIBERTY MEDIA : Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K)
Most Read News
1h ago MASTERCARD : Visa cuts revenue forecast as cross-border transactions slow
1h ago STARBUCKS : sales in Americas region up slightly more than expected
1h ago MOODY : assigns A1 underlying and Aa3 enhanced ratings to Catskill CSD NY's $5.9M GO Bonds
2h ago Amazon's heavy investing eats into bottom line, shares drop
2h ago COCA COLA : Governor denies switching to Fanta to boycott Coca-Cola
Most recommended articles
07/17DJU.S. Industrial Production-Historical
22m ago MCDONALD : suspends sale of chicken nuggets and other items in Hong Kong
26m ago USD/CAD TECHNICAL ANALYSIS : Familiar Trend Line in Focus
26m ago EUR/GBP TECHNICAL ANALYSIS : Sideways Trade Continues
52m ago AUD/USD TECHNICAL ANALYSIS : Exiting Short Aussie Trade
Dynamic quotes  
ON
| OFF