Weeks To Sift Through New Zealand Rubble, Producers Dumping Milk

Aftershocks are still being felt in New Zealand as the country tries to recover from a massive earthquake, and the devastation will impact the major dairy producing nation from exporting its goods. Fonterra, the world’s biggest dairy exporter, said some of its farms were without power and would likely have to dump milk, while other shipments are expected to be late.  That area accounts for roughly 13 percent of the New Zealand’s milk output. Analysts expect the earthquake to lift milk prices at the Global Dairy Trade event.