Dairy product prices drop amid bearish outlook

Tue, 02 Feb 2016

By Margreet Dietz Feb. 3 (BusinessDesk) - Dairy product prices slumped in the latest GlobalDairyTrade auction, sliding for the third time in 2016, amid concern about the outlook with supplies outweighing demand. The GDT average winning price sank 7.4 percent to US$2,276, down from US$2,405 at the previous auction two weeks ago and the lowest level since the September 1, 2015 auction. Some 24,474 tonnes of product was sold, up from 21,930 tonnes of product at the previous auction two weeks ago. The AgriHQ 2015-16 Farmgate Milk Price fel...

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