Cheese gets walloped in overnight dairy auction

(Image: Getty)

Wed, 22 Mar 2023

Dairy prices fell more than expected overnight, with cheese particularly hard hit.The Global Dairy Trade index fell 2.6% to an average price of US$3,361 (NZ$5,427). Dairy prices have fallen in six of the past seven auctions. Whole milk powder eased 1.5% to US$3,228 a metric tonne but cheddar tanked 10.2% to US$4,052. Butter was also down, by 3% to US$4,748.The SGX-NZX Dairy Derivatives market had been anticipating some small lifts in milkfats, a flat result for skim milk powder and a fall for whole milk powder.NZX analysts said the whole m...

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