Dairy product prices drop, sliding for eighth time in 10 auctions

Tue, 03 Jul 2018

By Margreet Dietz July 4 (BusinessDesk) - Dairy product prices declined at the Global Dairy Trade auction, led by a larger-than-expected drop in whole milk powder, after Fonterra said an increase in its May production lifted its expectations for the season’s milk collections. The GDT price index fell 5.0 percent from the previous auction two weeks ago. The average price was US$3,232 a tonne. Some 26,519 tonnes of product was sold, up from 21,634 tonnes two weeks ago. Whole milk powder sank 7.3 percent to US$2,905 a tonne. Fonterra...

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