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.
The flagship whole milk powder price rose 2.4% over the previous auction to reach US$2924/tonne.
The US$3000 a tonne level for WMP is generally regarded as the break-even point for farmers.
The GDT price index is up 1.6% per cent from the previous auction two weeks ago to US$3,005. Some 22,642 tonnes of product was sold, up from 22,498 at the previous auction.
Key results
AMF index up 2.5%, average price US$5,936/MT
Butter index down 1.6%, average price US$4,751/MT
BMP index down 12.2%, average price US$1,588/MT
Ched index down 4.4%, average price US$3,288/MT
LAC index up 2.2%, average price US$927/MT
RenCas index up 6.9%, average price US$6,260/MT
SMP index down 0.8%, average price US$1,913/MT
WMP index up 2.4%, average price US$2,924/MT
