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Dairy product prices inch higher as milk fats gain while milk powders fall

Dairy product prices edged higher at the Global Dairy Trade auction, rising for the second time in six auctions, as gains in milk fats offset a decline in milk powders.

The GDT price index rose 0.3 per cent from the previous auction three weeks ago to US$3,323. Some 33,501 tonnes of product was sold, up from 32,260 tonnes at the previous auction.

Whole milk powder declined 1.6 per cent to US$3,100 a tonne.

Lactose rose 5.1 per cent to US$791 a tonne, while butter climbed 3.8 per cent to US$5,954 a tonne, and anhydrous milk fat gained 3.6 per cent to US$6,402 a tonne.

Cheddar increased 2.5 per cent to US$4,118 a tonne and rennet casein added 1.2 per cent to US$6,316 a tonne.

Bucking the trend, butter milk powder dropped 10.1 per cent to US$2,026 a tonne, while skim milk powder fell 1.2 per cent to US$1,944 a tonne.

More at NZ Herald.

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