Wednesday, 07 March 2018 10:17

WMP price dip slightly

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The whole milk powder price slipped for the first time this year at the overnight Global Dairy Trade (GDT) auction.

 WMP price dropped 0.8% to US$3232/metric tonne. Overall, the GDT price index dropped 0.6%, its second drop this year.

Skim milk powder price, which has been languishing for months, jumped 5.5% to US$2051/metric tonne, breaking the US$2000 barrier for the first time since August last year.

Key results

AMF index down 3.2%, average price US$6,245/MT

Butter index down 1.0%, average price US$5,280/MT

BMP index down 4.3%, average price US$1,959/MT

Ched index up 1.7%, average price US$3,759/MT

LAC index not available, average price not available

RenCas index up 2.2%, average price US$5,128/MT

SMP index up 5.5%, average price US$2,051/MT

WMP index down 0.8%, average price US$3,232/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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