Dairy product prices continued their drop to the lowest level since February 2013 in the latest GlobalDairyTrade auction, paced by rennet casein and whole milk powder.
The GDT price index dropped 4.2 per cent to US$3,756 a tonne, the eighth consecutive drop and the lowest since February 2013. Some 37,012 tonnes of product was sold, up from 33,677 two weeks ago.
In the latest GDT auction, rennet casein slumped 10.2 per cent to US$10,672 a tonne, and whole milk powder sank 8.5 per cent to US$3,594 a tonne. Anhydrous milk fat slid 5.0 per cent to US$4,058, while Butter milk powder fell 1.9 per cent to US$3,628 a tonne.
Butter was unchanged at US$3,634 a tonne.
Cheddar climbed 8.0 per cent to US$4,236 a tonne, while skim milk powder rose 2.1 per cent to US$3,863 a tonne.