Global milk surplus drives dairy prices lower at latest GDT auction
Plentiful milk supplies from key producer countries are weighing down global dairy prices.
After eleven consecutive rises, the Global Dairy Trade (GDT) price index dropped in the overnight auction.
The GDT price index dropped 1.2% over the previous auction to US$3414/metric tonne; the last drop was in November 2018.
Whole milk powder price index was also down 2.1% to US$3180/MT.
Butter also suffered a 3.2% swing, with the average price at US$5297/MT.
Key results
AMF index down 1.4%, average price US$6,140/MT
Butter index down 3.2%, average price US$5,297/MT
BMP not offered
Ched index up 15.2%, average price US$4,851/MT
LAC index up 0.6%, average price US$893/MT
RenCas index up 5.1%, average price US$6,916/MT
SMP index up 0.5%, average price US$2,529/MT
SWP index not available, average price not available
WMP index down 2.1%, average price US$3,180/MT
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