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.
Last night’s auction saw the GDT price index up 1.8% compared to the previous auction.
The whole milk powder price, which generally sets Fonterra’s milk payout to farmers, rose 1.8% to US$3,037/metric tonne.
Key Results
AMF index up 4.1%, average price US$4,175/MT
Butter index up 0.4%, average price US$3,838/MT
BMP not offered
Ched index down 3.5%, average price US$3,641/MT
LAC index down 18.8%, average price US$887/MT
SMP index up 2.5%, average price US$2,799/MT
SWP index not available, average price not available
WMP index up 1.8%, average price US$3,037/MT
