Dairy product prices drop to nine-month low as March volumes jump

Tue, 18 Mar 2014

March 19 (BusinessDesk) - Dairy product prices fell to the lowest trade-weighted price in nine months, led by anhydrous milk fat and rennet casein, in a third decline on Fonterra Cooperative Group’s GlobalDairyTrade auction site. The GDT price index dropped 5.2 percent to US$4,563 per tonne from the last sale two weeks ago, the lowest price since June last year. Some 39,008 tonnes were sold at today’s auction, taking the total for March to 80,094 tonnes, double the 37,916 tonnes sold in March last year. “The market seems to be struggling to...

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