Dairy product prices extend plunge to fresh six-year low

Tue, 04 Aug 2015

By Margreet Dietz Aug. 5 (BusinessDesk) - Dairy product prices plunged still lower in the latest GlobalDairyTrade auction, paced by a drop in milk powders as supply surges. The GDT average winning prices sank 9.3 percent to US$1,815, down from US$2,082 at the previous auction three weeks ago. It was the lowest level since August 2009. Some 46,527 tonnes of product was sold, up from 31,691 tonnes of product three weeks ago. “Farmers now face two consecutive seasons of extremely low milk prices,” AgriHQ dairy analyst Susan Kilsby said i...

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