Dairy prices drop fourth consecutive time overnight
But Rabobank notes Chinese demand is recovering at latest auction.
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Dairy prices suffered their fourth decline in 2020 overnight, with the Global Dairy Trade Price Index dipping 4% and wiping out gains made over 2019.
Whole milk powder (WMP) was down 4.2% and skim milk powder (SMP) slumped 8.1% in the index, dragging down butter, cheddar, anhydrous milk fat,
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