The futures market is predicting milk powder prices to drop in response to the coronavirus outbreak
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After some rough years, dairy farmers in Minnesota might finally being seeing milk prices rise. (Photo: Dave Schwarz, dschwarz@stcloudtimes.com)
The deadly virus has thrown financial markets into reverse after a strong 2019.

ASB senior rural economist Nathan Penny says tonight’s Global Dairy Trade auctions will show exactly how milk powder will be affected.

But he says the market’s pointing to a five to 10 percent drop in prices.

He says dairy markets are nervous about the potential price drop – because China has the biggest dairy market in the world.

AUSTRALIA – The government of Australia has awarded funds to two local dairy companies, Purearth and Australian Consolidated Milk, in an effort to boost local milk production.

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