Prices have fallen again at the latest GlobalDairyTrade auction – and the dollar has dipped as well.
The GDT Price Index fell 7.9 per cent to an average of US$2,345 per metric tonne.
Whole Milk Powder fell by 11 per cent, it is a crucial product for Fonterra because it has a major influence on the payout to farmers.
It is the third successive auction at which prices have fallen.
The New Zealand dollar dipped to 64.60 US cents following the auction result.
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