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.
Last night’s GDT auction saw the price index rise 0.8% to UIS$3483/metric tonne. GDT’s price index hasn’t seen a price drop since November last year.
A decline in milk production among key producing global regions is keeping prices up.
However, the flagship whole milk powder price was down 1.35 to US$3287/MT.
Butter prices saw another big jump- 5.8% to US$5374/MT. Skimmed milk powder was up 1.8%.
Key results
AMF index up 3.7%, average price US$5,867/MT
Butter index up 5.8%, average price US$5,374/MT
BMP index up 5.0%, average price US$3,548/MT
Ched index up 3.2%, average price US$4,248/MT
LAC index down 5.3%, average price US$948/MT
RenCas index up 7.5%, average price US$6,703/MT
SMP index up 1.8%, average price US$2,468/MT
SWP index not available, average price not available
WMP index down 1.3%, average price US$3,287/MT
