Global dairy prices in for another 'significant decline' overnight

Global dairy prices in for another 'significant decline' overnight
NZX dairy analysts say the market expects WMP prices to decrease 6.1% at the auction. (Image: Getty)
Riley Kennedy
Global dairy prices are expected to take another “significant decline” overnight, New Zealand stock exchange analysts say.The fifth Global Dairy Trade fortnightly auction of the new season will be held overnight. At the last auction, whole milk powder (WMP), which has the biggest influence on Fonterra’s milk price, plunged 8.0% to US$2,864 (NZ$4,567) a tonne – the lowest level in about three years.It saw the co-op cut its forecast payout to between $6.25 and $7.75 per kilogram of milk solids (kgMS), with a midp...

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