NZ milk powder prices continued to decline at this week’s Pulse event. The regular WMP C2 price declined 0.9% to US$3,445/t compared to GDT #391 and was 3.2% lower than the price achieved at the prior Pulse event in late October. Instant WMP prices settled at US$3,540/t,  —0.8% on GDT #391.

The C2 price for medium heat NZ SMP settled 1.2% lower at US$2,540/t, just US$40/t below the nearest NZX-SGX futures contract. Arla sold SMP at the event, but not enough to meet platform requirements for prices publishing.