Dairy product prices drop to lowest since December 2012

Tue, 15 Jul 2014

By Margreet Dietz July 16 (BusinessDesk) - Dairy product prices fell to the lowest level since December 2012 in the latest GlobalDairyTrade auction, paced by whole milk powder and anhydrous milk fat. The GDT price index dropped 8.9 percent to US$3,309 a tonne, from US$3,595 a tonne two weeks ago. Some 36,656 tonnes of product was sold, down from 41,513 tonnes two weeks ago. New Zealand’s regional economies are milking the dairy industry, taking NZ$14.3 billion in total in 2013-14 – a 40 percent increase in earnings – DairyNZ figures sh...

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