19 Mar 2014

Dairy prices drop

2:25 pm on 19 March 2014

International dairy prices have dropped for the third time in a row in the overnight Global Dairy trade auction.

The average price fell by more than 5 percent, with the whole milk powder price index sliding by 5.8 percent.

The drop in the Skim milk powder index was much less, at 1.7 percent.

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The biggest price falls were for rennet casein and anhydrous milk fat - both sliding more than 10 percent.

Against the trend milk protein concentrate and butter milk powder prices rose about 4 percent.

About 39,000 tonnes of dairy products were sold in last night's auction.

That's less than the previous sale but the total amount sold in March is more than double last year, when milk production was hit by widespread drought and also 50 percent higher than the previous year.