Dairy product prices drop on global supply worry

Tue, 03 Nov 2015

By Margreet Dietz Nov. 4 (BusinessDesk) - Dairy product prices fell in the latest GlobalDairyTrade auction, a second straight decline, as ample worldwide supply subdued the outlook. The GDT average winning prices dropped 7.4 percent to US$2,569, down from US$2,735 at the previous auction two weeks ago. Some 33,997 tonnes of product was sold, down from 34,519 tonnes of product two weeks ago. “There is ample supply of dairy product available in the global market and buyers generally have plenty of stock on hand so there is little urgenc...

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