Global dairy prices take another hit

(Image: NZME)

Wed, 20 Mar 2024

Global dairy prices have taken another big hit a day before Fonterra reports its interim results.At the overnight fortnightly auction, the Global Dairy Trade (GDT) index dropped 2.8% to an average price of US$3,497 (NZ$5,780) per metric tonne.It follows a 2.3% decline at the auction on March 5.Whole milk powder (WMP), which has the biggest influence on Fonterra’s milk price and makes up roughly half of the auction by volume, dropped 4.2% to US$3,143/MT.Meanwhile, skim milk powder, the co-operative’s second biggest inf...

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