Global dairy prices down 6% in latest auction
Fonterra’s Global Dairy Trade for dairy products saw prices drop by 6% in the latest auction, which took place this week.
It continues a downward trend since February of this year, but is also the lowest figure since the summer of 2012.
Price are down over 42% on what they were 12 months ago. The two main areas which saw the largest drops were rennet casein, which saw prices drop 14% and butter milk power which saw prices drop 12.9%.
The last dairy auction had shown some signs of stabilisation but this auction saw prices drop to US$2,787/t.