Global dairy trade falls 4.2%
Average prices paid at today’s Fonterra dairy auction fell by 4.2%, compared with those recorded at the event held on May 20, with an average selling price of $3,756 per tonne.
Although today’s result shows a minimal fall of just over 4%, it comes on the back of eight auctions in a row which have seen price falls since February. It is important to note that todays auction is the most significant fall sice 01 April where the trade was also down a significant 8.9% on March figures.
Whole milk powder and cheddar were among the products affected by the change in market conditions, with price falls of 8.5% and 8% registered respectively.