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 Global Dairy Trade (GDT) auction saw the price index drop 0.5% compared to the previous auction after lifting for the first three auctions this year.
Whole milk powder price rose slightly. 0.3% to US$3246/metric tonne.
Butter rose 1.1% to US$5334/MT. Skim milk powder dipped 3% to US$1832/MT
WMP price rose for the fourth consecutive auction, rising from a year-low US$2755/MT on December 19 last year.
Key Results
AMF index down 1.9%, average price US$6,458/MT
Butter index up 1.1%, average price US$5,334/MT
BMP not offered
Ched index down 1.3%, average price US$3,686/MT
LAC index not available, average price not available
RenCas index up 0.7%, average price US$4,980/MT
SMP index down 3.0%, average price US$1,832/MT
WMP index up 0.3%, average price US$3,246/MT
