Dairy product prices rally as whole milk powder soars

Tue, 01 Nov 2016

By Margreet Dietz Nov. 2 (BusinessDesk) - Dairy product prices climbed at the Global Dairy Trade auction, advancing for the sixth time in seven auctions, bolstered by a jump in whole milk powder amid lower supply. The GDT price index jumped 11.4 percent to US$3,327, up from US$2,965 at the previous auction two weeks ago. Some 27,735 tonnes of product was sold, down from 31,525 tonnes at the previous auction. Whole milk powder soared 19.8 percent to US$3,317 a tonne. Last week Fonterra said it reduced its forecast milk volume for the...

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