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GlobalDairyTrade auction results: Slip sliding away
Dairy auction prices fell sharply overnight continuing the downward trend that started in March 2022. While prices fell across all product categories, there were some marked differences. Key whole milk powder (WMP) prices were just a shade weaker, falling by just 0.4%. However, milk fat prices were sharply lower, with prices for butter and butter milk powder dropping by 10.3% and 11.4%, respectively. Meanwhile prices for cheddar cheese and skim milk powder dropped 3.1% and 6.0%. Although a significant drop, the result was still better than expected. We had expected WMP to fall by about 4%, with the futures market ... (full story)