date:Jul 14, 2014
at $18.54.
Auction Slump
Whole-milk powder in New Zealand, a benchmark for global trade, tumbled 30 per cent this year to $3,459 a metric ton at the twice-monthly auction held by Auckland-based Fonterra Cooperative Group Ltd, the worlds biggest dairy exporter. Average prices will drop 9.6 per cent in the 12 months that began July 1, and skim-milk powder, cheese and butter will also decline, the Australian government said June 17.
New Zealands output will rise to 1.856 billion kilograms of mi