Prices of dairy products sold on Fonterra's GlobalDairyTrade platform fell 3 percent to a two-month low in the latest auction.
The GDT-TWI Price dropped to US$3,545 per metric tonne from US$3,666 at the last sale a fortnight ago. The price of whole milk powder, which typically accounts for more than
half the product sold on the platform, dropped 3 percent to a three-month low US$3,421 per metric tonne.
Some 32,339 tonnes of product was sold at the auction for a total price of some US$114.6 million.
See results of the auction here.
Anhydrous milk fat prices sank 11 percent to US$3,456, the biggest fall across all products. Cheddar prices declined 2.3 percent to US$3,559 per metric tonne, while milk protein concentrate fell 0.8 percent to US$5,571 per tonne.
