Glut in global milk supply keeping prices down
The final Global Dairy Trade (GDT) auction has delivered bad news for dairy farmers.
The GDT price index was down 2.9% compared to their previous event two weeks ago.
Whole milk powder price dipped 2.6% and is now below the US $3000/MT mark.
The consecutive drops in GDT prices are attributed to uncertainty surrounding coronavirus and its impact on the Chinese economy.
Key results
AMF index down 5.5%, average price US$4,379/MT
Butter index down 3.9%, average price US$4,090/MT
BMP not offered
Ched index up 5.3%, average price US$4,526/MT
LAC index not available, average price US$822/MT
RenCas index down 0.9%, average price US$9,873/MT
SMP index down 2.6%, average price US$2,840/MT
SWP index not available, average price not available
WMP index down 2.6%, average price US$2,966/MT
