Dairy commodity price falls bottom out, say Dutch Dairy Board
As firming dairy markets were reflected in Irish Dairy Board price increases, the Dutch Dairy Board said lower prices and a more favourable exchange rate of the US dollar versus the euro could generate renewed international buyer interest. But US export growth could be a very important factor in 2008 world prices. Meanwhile, availability of dairy products from Australia and New Zealand would be limited over the coming months, with milk production down 27% in Waikato, one of the main New Zealand milk areas, after their driest January since 1906.
The Irish Dairy Board has added €200 per tonne for unsalted butter and €50 for skim milk powder, effective from February 8.
