When will global milk production hit a tipping point?
With global milk prices falling, the question is when will key exporting countries reach a tipping point where production starts to dip.
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
