Strong production, tested demand send milk prices crashing
Strong global milk production and rebalancing of demand among key buyers has delivered one of the biggest drops in whole milk powder prices in recent years.
Global dairy prices dipped slightly in the overnight Global Dairy Trade (GDT) auction.
The GDT price index was down 0.4% compared to the previous auction, with key product whole milk powder down 0.8%, SMP up 0.7%, and butter unchanged.
Key results
AMF index down 1.5%, average price US$4,988/MT
Butter index unchanged, average price US$4,029/MT
BMP index up 3.4%, average price US$2,476/MT
Ched index down 0.8%, average price US$3,827/MT
LAC index down 0.9%, average price US$729/MT
RenCas index up 4.6%, average price US$6,632/MT
SMP index up 0.7%, average price US$2,500/MT
SWP index not available, average price not available
WMP index down 0.8%, average price US$3,076/MT
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