date:Aug 06, 2015
International dairy prices fell to a 13-year low in the GlobalDairyTrade auction, a trading platform established by New Zealands Fonterra Co-Operative Group.
The GDT Price Index fell 9.3% overnight Tuesday from the previous auction on July 15, with the average selling price at US$1,815 a metric ton, the lowest since 2002. The index covers a variety of products and contract periods and is viewed by the dairy industry as a market reference price.
The average selling price for whole-milk powder