[17 October/Farmers Weekly]

Dairy commodity prices eased 0.3 percent at the latest Global Dairy Trade event. This performance was better than expected. Whole milk powder prices fell, however prices for both butter and anhydrous milkfat increased. Skim milk powder was unchanged. Whole milk powder prices were expected to fall due to Fonterra lifting both its milk production forecast and increasing the amount of whole milk powder it intended to offer on the GDT platform. It eased 0.9 percent at the event. The average price for whole milk powder to ship in January lifted 0.8 percent, indicating a medium term need for product. Butter prices increased 2.4 percent, and the price for unsalted butter to ship in December increased 5.1 percent.