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.
He notes whole milk powder prices slipped 0.6% to US$3143/MT; this was unexpected as the milk futures market had predicted a 4% rise.
The GDT price index dipped 0.4% compared to the last auction.
Fat-based products- butter and anhydrous milk fat- also slipped; butter down 1.3% and AMF 1.2%.
Skim milk powder was slightly up – 0.3% to US$!968/MT.
Key results
AMF index down 1.2%, average price US$6,199/MT
Butter index down 1.3%, average price US$5,735/MT
BMP not offered
Ched index up 1.4%, average price US$4,005/MT
LAC index down 4.9%, average price US$747/MT
RenCas index up 2.9%, average price US$6,255/MT
SMP index up 0.3%, average price US$1,968/MT
WMP index down 0.6%, average price US$3,143/MT
