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Both skim (SMP) and whole milk powders (WMP) took the brunt of price falls at this week’s Global Dairy Trade (GDT) in New Zealand.
SMP prices fell by 15.5% to $2,118/t and WMP fell by 12.4% to $2,782/t. Butter prices were up 1.2% to $4,653/t but overall, average prices fell back by 6.3% to $3,512/t. This is the second consecutive fall in the GDT. Prices at the auction two weeks ago slipped by 3.2%.
Closer to home, the Ornua Purchase Price Index (PPI) for February is unchanged from January at 105.4. This equates to a farmgate price of 29.7c/l excluding VAT.
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