Coronavirus fears weigh on dairy prices
By Margreet Dietz |
Wed, 05 Feb 2020
Dairy product prices declined at the Global Dairy Trade auction on concern that the spreading coronavirus, which originated in China, will crimp demand. “Markets have been nervous that coronavirus and the associated practices to prevent spread of the virus will stop China buying,” NZX senior dairy analyst Amy Castleton said in a note. “Given China is such a large destination for New Zealand product, this could have a large impact on our economy. However, there does not appear to have been a large drop in Chinese demand.”The GDT price index...