Dairy prices rise 1.4 percent at GDT auction as cheese, butter surge

Tue, 21 Jan 2014

Jan. 22 (BusinessDesk) - Dairy product prices rose at the latest GlobalDairyTrade auction, led by surging prices for butter and cheese, two products which have posed problems for Fonterra Cooperative Group as their prices lagged whole milk powder. The GDT Price Index increased 1.4 percent from the last sale on Jan 8. The average winning price was US$5,025 per tonne from US$4,953 a tonne at the last auction. Some 41,024 tonnes of product was sold, down from 46,418 two weeks ago, for about US$206.1 million Butter climbed 10.8 percent to US$4,6...

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