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.
After three successive Global Dairy Trade events recording increases in the price index, last night‘s auction saw a 2% drop.
A similar drop was also recorded in the price of whole milk powder, which Fonterra uses to set its milk payout. WMP price now sits at US$2985/MT.
Butter was the biggest gainer, rising 3.9% to US$3822/MT.
Full results
AMF index down 2.6%, average price US$4,002/MT
Butter index up 3.9%, average price US$3,822/MT
BMP index up 1.2%, average price US$2,617/MT
Ched index down 0.8%, average price US$3,786/MT
LAC index not available, average price not available
SMP index down 4.4%, average price US$2,722/MT
SWP index not available, average price not available
WMP index down 2.0%, average price US$2,985/MT
