Business

Dairy prices drop

Dairy prices fell in the latest global auction for for the first time in six months.

The average price was down 1.2 percent to $US3400 a tonne.

Dairy prices had been sitting at two year highs after posting consistent rises since late November.

The price for whole milk powder, which has a key influence of farmer payouts, fell by 2.1 percent to $US3180 a tonne.

Prices for other products were mixed with butter weaker but a strong rise for cheddar,

Volumes sold were marginally higher.

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