UK activists have resumed their attack on the dairy industry.
Dairy prices continued to edge higher in last night’s Global Dairy Trade (GDT) auction with the aggregate price index up 0.4%.
A big reduction in European stocks of skim milk powder (SMP) was behind its whopping 10.3% rise in price at last week’s auction, economists concur.
Economists aren't too excited about last week’s 2.2% overall lift in the Global Dairy Trade price index.
China remains the key to where the global marketplace is heading in dairy prices, says Westpac economist Anne Boniface.
Export commodity prices have started 2018 on a firm footing thanks in part to the buoyant global trade backdrop.
Westpac senior analyst Anne Boniface says fears of tighter international supplies, particularly for whole milk powder, helped dairy prices squeeze higher in the first few Global Dairy Trade auctions of 2018.