Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  News  >  Commodities

News : Commodities

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 

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

share with twitter share with LinkedIn share with facebook
share via e-mail
0
01/23/2014 | 08:25pm CET
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
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Commodities"
01:36a Oil prices drop on increased U.S. rig drilling
12/10DJCameroon's Cocoa Prices Dip, Amid Huge Harvests--Traders, Farmers
12/09DJAngola Loses Allure for Oil Firms -- WSJ
12/09DJChina Nov CPI +1.7% on Year; Market Expected +1.8%
12/09DJSugar Selloff Extends Into Fourth Session
12/08DJU.S. Soybean Stocks to Grow, Analysts Say
12/08DJLIVESTOCK HIGHLIGHTS : Top Stories of the Day
12/08DJGRAIN HIGHLIGHTS : Top Stories of the Day
12/08 Oil rises nearly two percet on China demand, but weekly losses loom
12/08DJUSDA Weekly By-Product Value Hog Report - Dec 8
Latest news "Commodities"
Advertisement