Dairy product prices climb for third straight auction amid supply concern

Tue, 06 Feb 2018

By Margreet Dietz Feb. 7 (BusinessDesk) - Dairy product prices rose at the Global Dairy Trade auction, rising for the third straight time, as buyers stocked up in anticipation of easing output. The GDT price index climbed 5.9 percent from the previous auction three weeks ago. The average price was US$3,553 a tonne. Some 22,197 tonnes of product was sold, down from 23,319 tonnes three weeks ago. Whole milk powder rallied 7.6 percent to US$3,226 a tonne. “Falling milk production in New Zealand—and revisions to offer volumes—continue...

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