21 May 2015

Dairy prices sink further

11:58 am on 21 May 2015

Prices have fallen again in the latest fortnightly global dairy trade auction.

Overall, prices fell by 2.2 percent, with an average of $US2,472 dollars a tonne.

Pak n Save employee stacking milk in Gisborne.

Photo: RNZ / Alexander Robertson

It is the fifth consecutive decline in the index, but the rate at which prices are slipping is beginning to ease.

A key price that determines the payout to farmers, whole milk powder, fell 0.5 percent to $US2,390 dollars.

All prices apart from butter dropped, with cheddar down about 7 percent and skim milk powder 3.6 percent lower.

The amount of product sold at the overnight auction dropped 834 tonnes to 26,535.

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