Dairy prices drop fourth consecutive time overnight
But Rabobank notes Chinese demand is recovering at latest auction.
Dairy prices suffered their fourth decline in 2020 overnight, with the Global Dairy Trade Price Index dipping 4% and wiping out gains made over 2019.
Whole milk powder (WMP) was down 4.2% and skim milk powder (SMP) slumped 8.1% in the index, dragging down butter, cheddar, anhydrous milk fat,
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