Global dairy prices continue to drop

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WELLINGTON, Sept. 4 (Xinhua) -- Dairy product prices continue to drop for seventh consecutive trading in the past eight Global Dairy Trade (GDT) auction.

The GDT price index dropped 0.4 percent from the previous auction two weeks ago. The average price was 3,202 US dollars per tonne, compared with 3,255 dollars two weeks ago. A total of 39,689 tonnes of product was sold, increased from 34,410 tonnes, compared two weeks ago.

Whole milk powder decreased 0.8 percent to 3,076 dollars per tonne.

"It continues to reflect good demand for milk powders into this region," New Zealand stock market dairy analysts Robert Gibson and Amy Castleton said in a note.

At the latest GDT auction, rennet casein advanced 4.6 percent to 6,632 dollars per tonne, while lactose slightly dropped 0.9 percent to 729 dollars per tonne.

Anhydrous milk fat decreased 1.5 percent to 4,988 dollars a tonne.

Meanwhile, cheddar decreased 0.8 percent to 3,827 dollars a tonne.

Butter milk powder rose 3.4 percent to 2,476 dollars a tonne.

Skim milk powder advanced 0.7 percent to 2,500 dollars a tonne, while butter slightly advanced from 4,025 dollars a tonne to 4,029 dollars a tonne.

"New Zealand heads towards peak milk production which occurs in October," according to Gibson and Castleton.

Price of sweet whey powder was not available at the latest auction. Enditem

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