Business / Country

Dairy prices fall to two-month low at global auction

06:42 am on 19 August 2020

Prices have fallen in the global dairy auction overnight, to their lowest level in two months.

The price of wholemilk powder dropped 2.2 percent. Photo: 123rf

The average price at the auction fell 1.7 percent to $US3004 a tonne.

It compares with a 5.1 percent fall at the last auction two weeks ago.

The price of wholemilk powder, which strongly influences the payouts for local farmers, dropped 2.2 percent to $US2936 a tonne.

The prices for most products sold including butter and cheese also fell.

The volume of products sold fell more than 4 percent.