Uncertainty in global dairy commodity markets pushes prices downwards
And prices at last week’s global dairy trade auction, run by New Zealand milk giant, Fonterra, fell to a 14-month low, after the company revealed record milk flows to its processing plants. The decline was led by a 7.2% tumble in prices of rennet casein, an additive to cheese.
It is attributed to Fonterra’s jump of 13% in milk collections, year-on-year, due to fine autumn weather and reasonable winter conditions in New Zealand resulting in record spring milk flows.
