Middle East demand cushions global dairy price drop at latest GDT auction
The upheaval in the Middle East may have eased the fall in global dairy prices last week.
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
