Dairy prices slump after strong rally
Whole milk powder remains well above its three-year average.
Prices dropped sharply in Fonterra’s overnight GlobalDairyTrade auction.
The GDT Price Index plunged 5.1% to $US3302 a tonne and benchmark whole milk powder (WMP) dropped 6.7% to $US30991/t. This ate into solid recovery since prices bottomed out in July.
WMP accounted for about 55% of the
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