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.
Global dairy prices dropped slightly overnight but the flagship whole milk powder price managed a slight increase.
The GDT price index dropped 1.2% compared to the previous auction.
However, whole milk powder price rose 0.1% to US$3226/metric tonne. Futures had earlier predicted a 2% fall in WMP.
Skim milk powder price fell sharply- by 8.6% to US$1887/MT. Butter price was unchanged.
Key results
AMF index unchanged, average price US$6,249/MT
Butter index unchanged, average price US$5,281/MT
BMP not offered
Ched index down 3.9%, average price US$3,609/MT
LAC index not available, average price US$590/MT
RenCas index down 2.9%, average price US$4,948/MT
SMP index down 8.6%, average price US$1,887/MT
WMP index up 0.1%, average price US$3,226/MT
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