Dairy prices extend retreat as coronavirus clouds outlook

Wed, 04 Mar 2020

Dairy product prices declined for the third consecutive time at the Global Dairy Trade auction, though analysts noted the drop was not as large as some had anticipated. There were “expectations of a bigger fall,” Bank of New Zealand economist Doug Steel said in a note.“Covid-19 fears there may be, but New Zealand’s primary product prices remain at reasonable levels.”The GDT price index fell 1.2 percent from the previous auction two weeks ago. The average price was US$3,112 a tonne, compared with US$3,176 a tonne two weeks ago. Some 25,576...

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