Revamped Fonterra to be ‘more capital-efficient’
Fonterra chair Peter McBride says the divestment of Mainland Group is their last significant asset sale and signals the end of structural changes.
Whole milk powder was down 8.4% to US$4022 per metric tonne, its lowest level in more than a year.
Skim milk powder was down 9.6% with an average price of US$4126 per metric tonne.
Butter was down 11% to an average price of US$4040/MT.
Other results were: anhydrous milk protein, down 11.3%, average price US$4,062/MT;
butter milk powder down 15%, average price US$4,211/MT; cheddar down 3.5%, average price US$4,438/MT; MPC70 down 4.3%, average price US$8,436/MT; rennet casein index up 5.5%, average price US$11,105.
There were 201 bidders with 167 winners in 11 rounds and 39,653 tonnes of product sold.
