NZ commodity prices dip in April as skim milk powder, cheese drag down dairy

Thu, 04 May 2017

By Paul McBeth May 4 (BusinessDesk) - New Zealand commodity prices slipped 0.2 percent in April as an excess supply of skim milk powder (SMP) and cheaper cheese weighed on the broader dairy sector. The ANZ Commodity Price index fell to 282.9 from 283.5 in March, led lower by a 2.5 percent fall in dairy prices. Skim milk powder prices dropped 12 percent in the month and cheese prices dropped 6.8 percent, which weighed on the broader index, ANZ's New Zealand agri-economist Con Williams said in his report. "The pressure point in global...

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