Dairy product prices fall 2.2%, extending slide to fifth straight GDT auction

Tue, 19 May 2015

May 20 (BusinessDesk) - Dairy product prices fell for the fifth consecutive GlobalDairyTrade auction, pushing the GDT Price Index to its lowest level since August 2009 and adding to the pressure on the one in four dairy farmers the Reserve Bank says have negative cash flow this season. The GDT average winning price fell 2.2 percent to US$2,472 from US$ 2,515 at the previous auction two weeks ago. Some 26,535 tonnes of product was sold, down from 27,369 tonnes in the previous auction. Low prices are seen as one of three key risks to New Ze...

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