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 have recorded their second big drop in two weeks.
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
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