Strong production, tested demand send milk prices crashing
Strong global milk production and rebalancing of demand among key buyers has delivered one of the biggest drops in whole milk powder prices in recent years.
The GDT price index rose 3.7% over the previous auction, its biggest jump since February this year.
Fonterra’s key product whole milk powder enjoyed a 3.6% lift in price to US$3254/MT.
Skim milk powder also recorded a sharp rise; up 6.7% to US$2942/MT.
Key Results
AMF index up 2.6%, average price US$5,191/MT
Butter index up 0.2%, average price US$4,117/MT
BMP index up 5.4%, average price US$2,786/MT
Ched index down 0.6%, average price US$3,609/MT
LAC index down 1.9%, average price US$768/MT
RenCas index up 5.1%, average price US$7,274/MT
SMP index up 6.7%, average price US$2,924/MT
SWP index not available, average price not available
WMP index up 3.6%, average price US$3,254/MT
