Milk Powder Prices Prop Up Farmgate Milk Price
Milk powder prices are keeping farmgate prices up, helping processors offset the dip in milk fat prices.
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
