Wednesday, 04 April 2018 08:42

Whole milk powder price up 1.6%

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Whole milk powder price rose 1.6%. Whole milk powder price rose 1.6%.

Global dairy prices eased slightly overnight, however whole milk powder price rose 1.6%.

The Global Dairy Trade (GDT) index dropped 0.6% compared to the previous event; pulled down by a 7% drop in anhydrous milk fat (AMF) price. Skim milk powder also slumped 1.8%.

However whole milk powder price is holding up; rising to US$3278/metric tonne.

Butter also rose, up 4% to nearly US$5500/MT.

Key results

AMF index down 7.0%, average price US$5,806/MT

Butter index up 4.1%, average price US$5,494/MT

BMP index up 1.0%, average price US$1,988/MT

Ched index up 2.2%, average price US$3,679/MT

LAC index up 1.1%, average price US$549/MT

RenCas index up 12.1%, average price US$5,668/MT

SMP index down 1.8%, average price US$1,849/MT

WMP index up 1.6%, average price US$3,278/MT

 

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GDT price jump surprises economists

The 2.7% jump in last week’s Global Dairy Trade overall price index – with a 3.6% bounce in whole milk powder – was a surprise, economists agree.

Forecasts steady as demand holds

Banks are mainly holding firm on their forecasts of $7/kgMS despite last week’s flat Global Dairy Trade result – a small decline of 0.4% in the overall price index.

$7 payout still on the cards

Economists are still sticking to a 2019/20 season forecast of around $7/kgMS despite the 3.8% drop in the Global Dairy Trade overall price index last week.

Dairy prices tumble

Global dairy prices have tumbled in the latest Global Dairy Trade (GDT) event.

 
 

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