Coronavirus concern hits dairy prices

Wed, 19 Feb 2020

Dairy prices fell for the second straight time at the Global Dairy Trade auction amid concern about the spreading coronavirus. “The fall in dairy prices could trigger a round of downward revisions to analysts’ dairy payout forecasts, with the bottom of Fonterra’s current $7.00 to $7.60 range in their sights,” Bank of New Zealand interest rate strategist Nick Smyth said in a note. “We currently project $7.40, but subject to downward reassessment,” Smyth added.The GDT price index dropped 2.9 percent from the previous auction two weeks a...

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