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.
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
