Dairy prices hit record on tight supply, Ukraine jitters

Dairy prices hit record on tight supply, Ukraine jitters
Cheddar prices soared 10.9%. (Image: Deposit Photos).
Rebecca Howard
Global dairy prices hit their highest level ever on tight supply and fall-out from the Ukraine crisis. “This train isn’t slowing down,” said NZX dairy insights manager Stuart Davison.The GDT index lifted 5.1% to an average price of US$5,065 (NZ$7,509). Whole milk powder rose 5.7% to US$4,757 while cheddar rose 10.9% to $6,394.The GDT price index eclipsed both events in April 2013, the previous two largest GDT price index results.The higher prices were “propelled by dwindling milk supplies, market uncertainty around...

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