4 Jul 2018

Biggest drop in dairy prices in 18 months

7:37 am on 4 July 2018

Dairy prices have fallen to their lowest level since the start of the year in the latest global auction.

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Photo: 123RF

The average price was down 5 percent to $US3232 a tonne.

It was the third consecutive price fall and the biggest drop in nearly 18 months.

The price of whole milk powder, a key factor in setting returns to local farmers, fell 7.3 percent to $US2905 a tonne.

The volumes sold rose nearly 23 percent as the new dairy season got underway.

There were mixed results for the products offered, with falls for most milk powders, butter and cheese.