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.
Global dairy prices rose slightly in the overnight Global Dairy Trade (GDT) auction.
The GDT price index was up 2.7% compared to the previous auction.
Whole milk powder price rose 0.9% to US$3,311/MT; skim milk powder also rose, 3.6% to US$1913/MT.
Key Results
AMF index up 5.3%, average price US$6,120/MT
Butter index up 2.9%, average price US$5,654/MT
BMP not offered
Ched index up 4.6%, average price US$3,855/MT
LAC index up 14.8%, average price US$687/MT
RenCas index up 3.1%, average price US$5,792/MT
SMP index up 3.6%, average price US$1,913/MT
WMP index up 0.9%, average price US$3,311/MT
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