19 Aug 2020

Dairy prices fall to two-month low at global auction

6:42 am on 19 August 2020

Prices have fallen in the global dairy auction overnight, to their lowest level in two months.

Spoon with infant formula

The price of wholemilk powder dropped 2.2 percent. Photo: 123rf

The average price at the auction fell 1.7 percent to $US3004 a tonne.

It compares with a 5.1 percent fall at the last auction two weeks ago.

The price of wholemilk powder, which strongly influences the payouts for local farmers, dropped 2.2 percent to $US2936 a tonne.

The prices for most products sold including butter and cheese also fell.

The volume of products sold fell more than 4 percent.