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.
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
