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GlobalDairyTrade auction results: Taking a breather
Dairy auction prices fell overnight. Overall prices and key whole milk powder (WMP) prices dipped 0.7% and 2.7%, respectively. By product, the result was more mixed. The number of price rises actually outnumbered the falls by five to two. Lactose prices spiked over 19%, while skim milk powder, cheddar, anhydrous milk fat and butter milk powder prices all rose between 2% and 4%. Butter was the other product to post a price fall (down 1.6%). The WMP price fall was roughly in line with market expectations. The futures market had pointed to a WMP price fall of around 3%, although we had pencilled in a smaller decline of ... (full story)