Global milk prices drop overnight

Last night the average price on the online auction platform dropped by 5.2 percent to $US 46563 per…

Last night the average price on the online auction platform dropped by 5.2 percent to $US 46563 per tonne, representing the lowest price since mid-June last year, The Weekly Times reports.

Of the different dairy products, anhydrous milk fat experienced the biggest fall, lowering 10.7 percent to $US4578 per tonne, whole milk saw a 5.8 percent decline to $US4439 per tonne - the lowest price since last year, while cheddar dropped 4.1 percent to $US4641 per tonne.

Milk protein concentrate and butter milk powder however were the only two products to record a price rise with a 4.6 percent increase to $US5253, and 3.7 percent increase to $US8837 per tonne respectively.

The total amount sold came to 39,008 tonnes, compared to 41,086 tonnes sold last fortnight.