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Wednesday, 06 June 2018 09:22

Dairy prices slip

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The GDT price index was down 1.3%. The GDT price index was down 1.3%.

The new season’s first Global Dairy Trade (GDT) event saw prices dip slightly.

The GDT price index was down 1.3%.

Whole milk powder price dropped 1.1% to US$3205/MT.

Butter price dropped 3.5% to US$5581/MT.

Key Results

AMF index down 1.7%, average price US$6,222/MT

Butter index down 3.5%, average price US$5,581/MT

BMP index up 17.7%, average price US$2,314/MT

Ched index down 3.6%, average price US$3,998/MT

LAC index up 3.9%, average price US$714/MT

RenCas index up 2.7%, average price US$5,015/MT

SMP index up 0.3%, average price US$2,051/MT

SWP index not available, average price not available

WMP index down 1.1%, average price US$3,205/MT

 

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The 2.7% jump in last week’s Global Dairy Trade overall price index – with a 3.6% bounce in whole milk powder – was a surprise, economists agree.

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Banks are mainly holding firm on their forecasts of $7/kgMS despite last week’s flat Global Dairy Trade result – a small decline of 0.4% in the overall price index.

$7 payout still on the cards

Economists are still sticking to a 2019/20 season forecast of around $7/kgMS despite the 3.8% drop in the Global Dairy Trade overall price index last week.