Butter prices softening from record high levels

Tue, 07 Nov 2017

By Tina Morrison Nov. 7 (BusinessDesk) - Butter prices are forecast to soften on the GlobalDairyTrade platform overnight as buyers balk at high prices, although analysts say the price is set to remain elevated due to the underlying strong demand and limited supply. The GDT Butter Price Index has declined at the past two auctions after hitting a record high on Sept. 19. The next GDT auction is scheduled for tonight and ahead of that, November butter futures on the NZX last traded at US$5,600 a tonne, 7.9 percent weaker than the equivalent...

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