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Wednesday, 04 November 2020 09:30

Dairy prices fall

Written by  Staff Reporters
Last night‘s GDT auction saw a 2% drop. Last night‘s GDT auction saw a 2% drop.

Global dairy prices have dipped for the first time six weeks.

After three successive Global Dairy Trade events recording increases in the price index, last night‘s auction saw a 2% drop.

A similar drop was also recorded in the price of whole milk powder, which Fonterra uses to set its milk payout. WMP price now sits at US$2985/MT.

Butter was the biggest gainer, rising 3.9% to US$3822/MT.

Full results

AMF index down 2.6%, average price US$4,002/MT

Butter index up 3.9%, average price US$3,822/MT

BMP index up 1.2%, average price US$2,617/MT

Ched index down 0.8%, average price US$3,786/MT

LAC index not available, average price not available

SMP index down 4.4%, average price US$2,722/MT

SWP index not available, average price not available

WMP index down 2.0%, average price US$2,985/MT 

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OPINION: What goes up must come down. So, global dairy prices retreating from lofty heights in recent months wouldn’t come as a surprise to many farmers.

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OPINION: Dipping global dairy prices have already resulted in Irish farmers facing a price cut from processors.

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OPINION: Are the heydays of soaring global demand for butter over?

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