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Dairy prices fall for fourth straight auction

Dairy product prices fell at the Global Dairy Trade auction, dragged lower by an unexpected plunge in anhydrous milk fat.

The GDT price index slipped 0.6 percent from the previous auction two weeks ago. The average price was US$3,477 a tonne. Some 17,222 tonnes of product was sold, down from 18,635 tonnes two weeks ago.

Whole milk powder rose 1.6 percent to US$3,278 a tonne.

Anhydrous milk fat sank 7 percent to US$5,806 a tonne, while skim milk powder slid 1.8 percent to US$1,849 a tonne.

Meanwhile, rennet casein rallied 12.1 percent to US$5,668 a tonne, while butter climbed 4.1 percent to US$5,494 a tonne.

Cheddar rose 2.2 percent to US$3,679 a tonne, while lactose rose 1.1 percent to US$549 a tonne, and buttermilk powder added 1 percent to US$1,988 a tonne.

More at NZ Herald.

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