Covid fears drive dairy stockpiling

Wed, 22 Jul 2020

Global dairy prices held up in the overnight auction as some buyers jostled to shore up supply against a backdrop of rising covid-19 cases in key markets While the Global Dairy Trade price index eased 0.7 percent, the result was better than expected with whole milk powder prices lifting 0.6 percent to an average price of US US$3,218 per tonne after jumping 14 percent in the prior auction. Prices were higher for shorter-dated contracts which indicates “short terms needs are filled for now,” said NZX senior dairy analyst Amy Castleton. “...

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