Dairy prices defy ample supply as market momentum builds
Global dairy prices continue to rise despite ample supply from key milk producing countries including New Zealand.
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
