Dairy product prices extend slide, falling 2.6 percent to 14-month low, paced by whole milk powder

Tue, 15 Apr 2014

April 16 (BusinessDesk) - Dairy product prices extended their slide to a 14-month low in the latest GlobalDairyTrade auction, paced by whole milk powder, raising speculation Fonterra Cooperative Group’s forecast record milk payout may not be sustainable. The GDT price index dropped 2.6 percent to US$4,047 a tonne, from US$4,124 a tonne two weeks ago, the fifth straight decline and the lowest since February 2013. Some 36,549 tonnes of product was sold, down from 39,653 tonnes two weeks ago. In February, Fonterra raised its forecast payout to...

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