Dairy prices defy ample supply as market momentum builds
Global dairy prices continue to rise despite ample supply from key milk producing countries including New Zealand.
The GDT price index has risen 10.1% since the February 3 auction, with the average price now at US$3,366.
Across the board, prices were up. Cheddar gained the greatest ground with an average price of US$3,054, a 16.8% rise since the last auction. This was followed by whole milk powder, up 13.7% with an average price of US$3,272. Skim milk powder also saw gains.
Last night's results will be welcome news for farmers, many of whom are struggling with a combination of drought conditions and a lower than expected payout.
Key Results:
AMF index up 6.4%, average price US$4,314/MT
Butter index up 1.1%, average price US$3,823/MT
BMP index up 1.9%, average price US$2,674/MT
Ched index up 16.8%, average price US$3,054/MT
LAC not offered
RenCas index up 1.2%, average price US$8,897/MT
SMP index up 5.7%, average price US$2,744/MT
SWP index not available, average price not available
WMP index up 13.7%, average price US$3,272/MT
Full results have been published on www.GlobalDairyTrade.info.
