Dairy prices slide, cheddar down 9.2%

Dairy prices are down for the sixth consecutive GDT auction. (Image: Unsplash)

Wed, 07 Jul 2021

Global dairy prices fell 3.6% in the overnight auction, marking the sixth consecutive fall in the Global Dairy Trade (GDT) price index. Average prices are now US$3,924 a metric tonne with whole milk powder falling 3% to US$3,864 and skim milk powder tumbling 7% to US$3,126. Cheddar prices also fell a sharp 9.2% to US$3,949. Economists and the NZX dairy derivatives market had predicted a slide, but not the scale of the decline. Westpac Bank, for example, had tipped whole milk powder prices to fall 1%. “Bidding-round informa...

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