When will global milk production hit a tipping point?
With global milk prices falling, the question is when will key exporting countries reach a tipping point where production starts to dip.
The flagship whole milk powder price index was up 2.9%, to US$2760/tonne.
The GDT price index rose 1.4% at the latest auction, following a 3% cent dip in the previous auction- which ended a run of price increases. WMP prices had dipped 3.8% in the previous auction.
The latest price rise could be attributed to supply concerns out of New Zealand; prolonged wet weather in the North Island is affecting milk production.
Key results
AMF index up 1.1%, average price US$5,007/MT
Butter index up 2.6%, average price US$3,984/MT
BMP index up 0.2%, average price US$2,583/MT
Ched index down 3.7%, average price US$3,290/MT
LAC index up 5.6%, average price US$780/MT
RenCas index down 4.5%, average price US$6,286/MT
SMP index down 0.3%, average price US$2,204/MT
WMP index up 2.9%, average price US$2,760/MT
