Dairy product prices fall 5.9% in GDT auction, volumes rise

Tue, 03 Jul 2012

July 4 (BusinessDesk) - Prices of dairy products fell in Fonterra’s latest GlobalDairyTrade auction, mirroring a broader decline in New Zealand’s primary sector exports in the face of doubts about the strength of the world’s economic recovery. The GDT-TWI Price Index fell 5.9 percent compared to the last sale in June. The average winning price dropped to US$2,787 a metric tonne from US$3,042 a tonne two weeks ago. Whole milk powder, the biggest product by volume, fell 4.1 percent to US$2,760 a tonne and skim milk powder fell 9.8 percent to US...

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