Glut in global milk supply keeping prices down
The final Global Dairy Trade (GDT) auction has delivered bad news for dairy farmers.
The big gains in the Global Dairy Trade auction two weeks ago were mostly retained in last night’s auction.
The GDT price index dropped slightly, by 0.7% to US$3,201/MT. Fonterra’s flagship product, whole milk powder lifted 0.6% to US$3,218/MT. In the previous auction WMP had jumped 14% and the price index rose 8.3%.
In last night’s auction butter was the biggest loser, with average price dropping 4.9% to US$3533/MT.
Key results
AMF index down 2.8%, average price US$3,870/MT
Butter index down 4.9%, average price US$3,533/MT
BMP not offered
Ched index up 0.6%, average price US$3,803/MT
LAC index down 2.5%, average price US$1,279/MT
SMP index down 0.5%, average price US$2,680/MT
SWP index not available, average price not available
WMP index up 0.6%, average price US$3,218/MT
