Dairy prices take another hit at latest GDT auction

Dairy prices take another hit at latest GDT auction
(Image: Getty)
Riley Kennedy
Global milk prices have taken another hit as pressure continues on the commodity.The latest Global Dairy Trade (GDT) auction, held overnight, comes just two days after Fonterra cut its farmgate milk price for the rest of the current season.At last night’s event, the GDT Index fell 4.7% to an average of US$3,227 (NZ$5,112) per metric tonne (MT). It's the seventh fall over the past eight auctions.Whole milk powder – which has the biggest influence on Fonterra’s milk price – fell 5.2% to $3,053/MT while skim milk powder...

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