Whole milk powder prices dropped most at yesterday’s Global Dairy Trade auction, falling 4.4% to an average of $US4207 ($NZ6230) a tonne. PHOTO: STEPHEN JAQUIERYImpacts of the Chinese lockdowns caused a significant drop in dairy prices at the latest Global Dairy Trade auction. The biggest drop at yesterday’s auction was in the price of whole milk powder, which strongly influences Fonterra’s farm-gate milk price. Dairy prices hit a record peak at the start of March, but have fallen in the three GDTs since. Now, with the Omicron outbreak in China, skim milk powder prices had started to fall.

Source: Otago Daily Times April 20, 2022 20:24 UTC