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The New Zealand-based Global Dairy Trade platform reported its third consecutive fall in dairy commodity prices on Tuesday.
Its overall index was down 3.8%, dragged by a 4.3% fall in the price its flagship product, whole milk powder. Skimmed milk powder was also back 3.5%.
Butter suffered the heaviest price drop, down 5.7%. Anhydrous milk fat was less severely hit, falling by 3.3%.
Cheddar
Cheddar prices fell by 4.3% and lactose by 2.2%. Only rennet casein benefited from a price increase, up 2.3%.
Southern hemisphere dairy prices hit a high in May and are now on a downward trend, which has been accelerating at each of the last three auctions.
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