Wednesday, 21 March 2018 09:26

Whole milk powder price holds

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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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No surprise in softer WMP price

Softer whole milk powder (WMP) prices are not surprising given China’s strong import activity recently and the steadily increasing WMP pricing, says Rabobank dairy analyst Emma Higgins.

 
 

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