When will global milk production hit a tipping point?
With global milk prices falling, the question is when will key exporting countries reach a tipping point where production starts to dip.
In the overnight auction, the price index rose 0.9% over the previous auction; anhydrous milk fat was up 5.3% and butter up 1.2%.
Whole milk powder prices rose 0.6%, in line with earlier futures pricing.
Butter is now selling on GDT at a record price of US$6026/ MT; AMF is fetching US$6764/MT.
Key results
AMF index up 5.3%, average price US$6,764/MT
Butter index up 1.2%, average price US$6,026/MT
BMP not offered
Ched index down 1.9%, average price US$4,032/MT
LAC index down 3.8%, average price US$759/MT
RenCas index down 2.4%, average price US$6,036/MT
SMP index down 1.2%, average price US$1,920/MT
WMP index up 0.6%, average price US$3,122/MT
