Global Milk Price Continues Down

The latest Fonterra milk auction shows values continuing to slide.  The latest sale, on the 20^th May, saw the weighted average price drop 1.8% (to $3,873 per tonne).  This is in addition to a 1.1% drop for the auction a fortnight earlier.  Overall, prices are now 23% lower than the high-point reached in early February ($5,042 per tonne).  The market is around 15% down compared to the same time last year.