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.
Anhydrous Milk Fat took the biggest hit with the average price dropping 8.9% to US$2,814/MT.
Decreases were also seen for Lactose, down 2.8% to US$525/MT, Skim Milk Powder down 0.2% to US$1,978/MT and Whole Milk Powder, which dropped a minimal 0.1% to US$2,327/MT.
However, it was not all bad news with several products gaining ground. Butter Milk Powder rose 10% with an average price of US$1,975/MT.
Rennet Casein increased 4.3% to US$6,126/MT.
Butter and Cheddar also saw an increase; Butter went up 3.3% with an average price of US$2,707/MT, while Cheddar rose 2.4% to US$2,814/MT.
Some 24,047 tonnes of product was sold, down from 27,711 tonnes of product two weeks ago.
Key Results
AMF index down 8.9%, average price US$2,814/MT
Butter index up 3.3%, average price US$2,707/MT
BMP index up 10.0%, average price US$1,975/MT
Ched index up 2.4%, average price US$3,128/MT
LAC index down 2.8%, average price US$525/MT
RenCas index up 4.3%, average price US$6,126/MT
SMP index down 0.2%, average price US$1,978/MT
WMP index down 0.1%, average price US$2,327/MT
