Seventh global dairy price drop, supply outstripping demand

Seventh global dairy price drop, supply outstripping demand
(Image: Supplied)
Riley Kennedy
Global dairy prices have dropped for the seventh consecutive time, as milk availability worldwide weighs on prices.Wednesday’s Global Dairy Trade auction was the seventh event on the trot where prices have fallen, with all products on the platform down.The price index dropped a further 3% to an average price of US$3,678 (NZ$6,4920 per metric tonne.Whole milk powder (WMP), which has the biggest influence on the farmgate payout and makes up more than half of the volume, fell 1.9% to US$3,452/MT – nearly US$1,000/MT off its May pe...

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