Whole milk powder leads drop in dairy auction prices

Wed, 18 Dec 2019

Prices dropped at the latest Global Dairy Trade auction, led by steep slides in milk powder. The GDT price index fell 5.1 percent from the previous auction two weeks ago. The average price was US$3,302 a tonne, compared with US$3,467 a tonne two weeks ago. Some 35,748 tonnes of product was sold, down from 36,258 tonnes two weeks ago.“The latest GDT dairy auction wasn’t so flash, with a larger fall than expected,” Jason Wong, senior market strategist at BNZ in Wellington, said in a note.“This follows a decent move higher in dairy prices and...

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