Milk Glut Drags Fonterra Forecast Down to $9.20/kgMS
A milk glut around the world shows no sign of easing, putting downward pressure on farmgate milk prices for the next few months.
The GDT price index dropped 1.7%, its third consecutive drop.
Whole milk powder prices slumped 2.2% to US$2936/metric tonne, dipping below the US$3000/MT for the first time since February this year.
Key results
AMF index down 2.9%, average price US$3,873/MT
Butter index down 2.0%, average price US$3,370/MT
BMP not offered
Ched index down 3.6%, average price US$3,442/MT
LAC index down 3.3%, average price US$1,303/MT
SMP index up 1.1%, average price US$2,608/MT
SWP index not available, average price not available
WMP index down 2.2%, average price US$2,936/MT
