Dairy product prices fell at the Global Dairy Trade auction, led by declines in rennet casein and whole milk powder (WMP).
The GDT Price Index went down -1.1% to USD 3,465 tonne while softer WMP prices saw the average WMP price land 1.5% lower to USD 3,231/tonne.
Rabobank's dairy analyst Emma Higgins spoke to The Country's Jamie Mackay about the latest results from the auction which is the second to last GDT Event for the 2017/18 production season.
Higgins says the drop coincides with Fonterra yesterday revising upwards their production forecast for the full season to -2% (from -3% previously) to 1.5billion kgMS.
Listen below:
