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.
The GDT price index rose 1.3% to US$3,537, up from US$3,517 at the previous auction three weeks ago. Some 21,273 tonnes of product was sold, below the 22,030 tonnes at the previous auction.
The all-important whole milk powder rose 1% to US$3,314 a tonne; skim milk powder inched 0.1% higher to US$2,608 a tonne.
There were a few big gains too; lactose jumped 12.4 % to US$910 a tonne, while butter climbed 4.9% to US$4,593 a tonne. Anhydrous milk fat gained 4% to US$5,765 a tonne.
Key Results
AMF index up 4.0%, average price US$5,765/MT
Butter index up 4.9%, average price US$4,593/MT
BMP index down 7.5%, average price US$2,254/MT
Ched index down 3.7%, average price US$3,798/MT
LAC index up 12.4%, average price US$910/MT
RenCas index down 0.4%, average price US$6,445/MT
SMP index up 0.1%, average price US$2,608/MT
WMP index up 1.0%, average price US$3,314/MT
