Wellington: The dairy prices fall for the 6th time in a row as whole milk powder prices are also dropped.
The global dairy prices decreased due to the lowering whole milk powder prices. The GDT Price Index is lowered down by the 2%, with the average selling price of $2,851 per tonne. However, the index decreased by 0.3 percent at the last sale.
Whole milk powder or WMP prices decreased by 2.9% to the lowest level since August 2016. However, they are expected to decrease further.
Rates of butter additionally fell 1.7 percent, however skim milk powder squeezed out a 1.2% rise. The New Zealand milk co-operative, which is possessed by around 10,500 agriculturists, controls about 33% of world dairy exchange.
Various organizations, including Dairy America and Murray Goulburn, utilize the platform for the sales of milk powder and other dairy products.
The auctions are held two times every month, with the following one planned for November 20.