The drop in global dairy prices point to continued weakness in global demand for imported dairy products, says RaboResearch’s Thomas Bailey.

Independent economist Cameron Bagrie says dairy fundamentals are looking pretty good, despite the GDT dropping in the past three auctions.

Global dairy prices fell for the fourth consecutive time at the Global Dairy Trade auction last week.

Global dairy prices have slumped for the fourth consecutive time in 2020 and coronavirus (Covid-19) is to blame.

Covid-19 is forecast to strip more than $1.3 billion dollars off New Zealand’s primary exports in the coming year, including $390 million off dairy exports.

The coronavirus has only had a moderate impact on dairy prices so far, according to Westpac head of strategy Imre Speizer.

Global dairy prices have dropped for the third consecutive auction.

Global dairy prices have recorded their second big drop in two weeks.

Global dairy prices have taken a hit in the overnight auction.

Fonterra says it’s keeping a close eye on the coronavirus outbreak in China, the co-op’s key export market.