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Fonterra Auction Published 4 November 14

As the Fonterra Global Dairy Trade (GDT) auction is now held twice a month with varying intervals, this page has been changed to emphasise the price changes between auctions for different products. For further information on individual product details, please visit the Fonterra site by clicking here.

Auction summary for 4 November 2014:

The most recent auction showed a 0.3% decrease in the overall auction index. All products traded experienced a decrease in index with the exception of WMP which showed an increase for the second auction in a row (up by 1.6%). Cheddar prices showed the largest fall since the last auction, down 9.2% to $2,728/tonne.

Average price indices show increases for contracts for delivery from March 2015 onwards, this has been driven by an increase in powder prices for these periods. For example, the price of WMP for Contract 4 has increased 10.4% since the previous auction to $2,794/tonne. However, this is likely to account for only a small volume of product traded.

Click here to view full report