Dairy auction may point to price stabilisation as China demand weighed

Tue, 19 Aug 2014

Dairy product prices recorded their mildest decline in five auctions overnight, although a bounce back in whole milk powder may not point to rising Chinese demand yet, economists say. The GDT price index slipped 0.6 percent to a two-year low of US$3,000 in the GlobalDairyTrade auction as a 12 percent slump in skim milk powder was partly offset by a 3.4 percent gain for whole milk powder. Prices for cheddar, butter milk powder and rennet casein also declined. The fall wasn't enough to drive the kiwi dollar lower after it dropped against th...

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