8 Nov 2017

Global dairy prices slip 3.5%

6:41 am on 8 November 2017

Dairy prices have fallen in the latest global auction to a seven-month low.

FOR WATER TAX story - Generic cow

The average dairy price dropped 3.5 percent in the latest global auction. Photo: RNZ / Rebekah Parsons-King

After two small price drops in October, the average price fell 3.5 percent overnight to $US3105 a tonne.

The whole-milk powder price is down by 5.5-percent to $US2852 dollars a tonne.

That is the lowest it has been since the beginning of March and the first time it has dipped below $US3000 since April.

Farmers need on average $US3000 a tonne of milk solids to cover on-farm costs.

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