Dairy product prices slide amid abundant supply

Tue, 07 Mar 2017

By Margreet Dietz March 8 (BusinessDesk) - Dairy product prices declined at the Global Dairy Trade auction, falling for a second straight auction, as supply is larger than previously anticipated. The GDT price index slid 6.3 percent from the previous auction two weeks ago to US$3,512. Some 22,328 tonnes of product was sold, up from 20,479 at the previous auction. Whole milk powder sank 12.4 percent to US$2,782 a tonne. Improved milk intakes in recent months mean Fonterra has more product available to sell than previously anticipated...

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