Whole Milk Powder prices fell at Fonterra’s auction in January for the first time in six months, dropping by 7.1% from December to an average of $3,309/t (£2,052/t). The auction saw 25,000t of New Zealand WMP offered, with no WMP offered from Australia, according to DairyCo Datum’s latest report.
Back in the UK, 2010 has started on a more positive note, with two milk buyers increasing their prices so far. Saputo has increased its January price by 0.75p/litre to 22.39p/litre, reflecting the improved mozzarella market. And AJ & RG Barber has become the first Cheddar cheese processor to increase its price this year, boosting payments by 1p/litre.
"This could be a sign that the expected rise in the Cheddar market is starting to materialise and could lead to other cheese processors following suit," says the report. "However, the recovery of the commodity markets that started last summer will have to be sustained and strong if we are to see milk prices reaching similar levels to those experienced at the end of 2008."
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