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Delay to WMP auction

This article was originally published in Foodnews

FONTERRA's May internet auction of milk powders has been postponed to 12 May due to a software problem, which could not be quickly resolved. The delay is not expected to have any effect on pricing in May trades on the internet platform. There was extensive interest in the auction because international dairy prices have risen for two months in a row in the past two auctions, after a lengthy period of decline. Last month's average selling price for WMP rose 3.5% to NZ$3 903/tonne (US$2 235/tonne), following a 16.6% rise in early March.



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