Butter price hikes could push opening forecast to $7.50
Soaring butter prices may see next season’s milk price go beyond $7/kgMS – even as high as the mid sevens.
The Global Dairy Trade (GDT) price index hasn’t seen a rise since May this year.
The overnight GDT auction saw the price index fall 1.3% compared to the previous auction.
Whole milk powder price slid further, dropping 1.8% to US$2768/metric tonne.
Key results
AMF index down 0.6%, average price US$5,294/MT
Butter index down 0.1%, average price US$4,270/MT
BMP not offered
Ched index down 3.5%, average price US$3,503/MT
LAC index down 0.3%, average price US$910/MT
RenCas index up 1.7%, average price US$5,421/MT
SMP index down 1.1%, average price US$1,980/MT
SWP index not available, average price not available
WMP index down 1.8%, average price US$2,768/MT
