Whole milk powder (WMP), the most influential product for Fonterra’s farmgate milk price, climbed 1% to US$3,449/MT, consolidating gains after a significant 7.2% rise at the previous event. Skim milk powder (SMP) strengthened further, up 2.2% to US$2,615/MT, following an already robust increase two weeks earlier. Butter rose 2.1% to US$5,314/MT, while anhydrous milk fat (AMF) increased 3.0% to US$6,191/MT, extending strong upward trends seen in the prior auction. Cheddar declined 1.4%, mozzarella recorded the largest fall at -2.3%, and lactose eased 1.8% after returning to the auction roster. Overall volumes traded totaled 27,821 metric tonnes, slightly lower than the previous event, with 114 winning bidders, unchanged from the prior auction.

Source: New Zealand Herald January 20, 2026 21:08 UTC