ASB trims milk price forecast by 40c in wake of GDT prices hitting lowest level in five years

Tue, 18 Nov 2014

By Fiona Rotherham Nov. 19 (BusinessDesk) - ASB has trimmed its milk price forecast to $4.70 per kilogram of milk solids following dairy product prices in the latest GlobalDairyTrade auction falling to the lowest level in more than five years. The GDT average winning price slid 3.1 percent to US$2,561 overnight, the lowest level since August 2009, and down from US$2,649 two weeks ago. Some 39,613 tonnes of product was sold, down from 45,499 tonnes at the last auction. Although prices rose for four of the seven main products, the price...

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