Dairy product prices slide more than expected

Wed, 15 Jul 2015

By Margreet Dietz July 16 (BusinessDesk) - Dairy product prices sank in the latest GlobalDairyTrade auction, paced by cheddar and whole milk powder, reflecting a sombre outlook. The GDT average winning prices sank 10.7 percent to US$2,082, down from US$2,276 at the previous auction two weeks ago. It was the lowest level since July 2009. Some 31,691 tonnes of product was sold, down from 33,200 tonnes of product two weeks ago. AgriHQ dairy analyst Susan Kilsby called the auction “a disastrous result,” adding that “the NZX Futures market...

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