Event #406 delivered another weaker outcome with price declines across all major products as demand, especially from North Asia (China), remains soft. The index decreased 2.8%.

Fonterra C2 Regular WMP dipped 4.1% to US$3,550/t — just US$5/t lower than the price achieved at last week’s Pulse event. Fonterra MH SMP C2 dropped 3.7% to US$3,380/t. European SMP also fell, with Arla and Solarec C2 prices down by 8.8% and 3.6%, respectively.

The Fonterra C2 butter price declined 1.5% to US$6,035/t, while Solarec C2 fell 5.1% to US$4,345/t. Fonterra C2 AMF dropped 5.4%, averaging US$6,601/t. NZ Young Cheddar C2 fell 2.1% to $4,655/t and EU pricing also declined, with Solarec C2 pricing down 3.3% to US$3,810/t.