Dairy product prices fall to lowest since October 2012

Tue, 05 Aug 2014

By Margreet Dietz Aug. 6 (BusinessDesk) - Dairy product prices slumped to the lowest level since October 2012 in the latest GlobalDairyTrade auction, paced by whole milk powder and cheddar. Since the last auction three weeks ago, Fonterra Cooperative Group has slashed its forecast 2015 farmgate milk payout to $6 per kilogram of milk solids from $7/kgMS, citing strong global production, a build-up of inventory in China and falling demand in emerging markets. The ANZ Commodity Price Index fell for a fifth month in July, led by a 12 percent...

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