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.
The GDT price index was down 3.5% in the overnight auction, the largest fall in the last three auctions.
The flagship whole milk powder price was down 5.5% to US$2852/MT, compared to the previous auction.
Butter price also came down from its record high, dropping 3.6%.
Key Results
AMF index up 0.5%, average price US$6,894/MT
Butter index down 3.6%, average price US$5,516/MT
BMP index up 7.2%, average price US$1,931/MT
Ched index down 2.8%, average price US$4,001/MT
LAC index not available, average price not available
RenCas index down 4.0%, average price US$5,465/MT
SMP index up 1.2%, average price US$1,818/MT
WMP index down 5.5%, average price US$2,852/MT
