Global Dairy Trade slides again

07 Nov, 2018 07:48 AM
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The Global Dairy Trade auction has been in negative territory since May. Source: Global Dairy Trade
It fell on Tuesday to an average price of $US2851 a tonne, the lowest price since August 2016.
The Global Dairy Trade auction has been in negative territory since May. Source: Global Dairy Trade

The Global Dairy Trade continued its downward trend at the auction on Tuesday night, with a 2 per cent fall.

The auction has been in slow decline since May, as growing production volumes in New Zealand, Europe and the United States started to weigh on the market.

It fell on Tuesday to an average price of $US2851 a tonne, the lowest price since August 2016.

The fall was across most categories led by the cheddar index, down 4.6pc.

The key whole milk powder index was down 2.9pc and the butter index was down 1.7pc.

Only the skim milk powder index (up 1.2pc) and the butter milk powder index (up 0.8pc) defied the downward trend.

Read more: Australian Situation and Outlook report

Carlene Dowie

Carlene Dowie

is editor of Australian Dairyfarmer magazine

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