Middle East demand cushions global dairy price drop at latest GDT auction
The upheaval in the Middle East may have eased the fall in global dairy prices last week.
Global Dairy Trade Event 171 concluded overnight with the GDT price index up 7.7%
The average price was US$2920/MT with 131 winning bidders over 14 rounds.
The all-important whole milk powder index was up a more modest 3.7% with an average price of US$2793/MT.
Key results were:
AMF index up 15.4%, average price US$4,769/MT
Butter index up 14.9%, average price US$3,764/MT
BMP index up 6.8%, average price US$2,070/MT
Ched index up 9.0%, average price US$3,436/MT
LAC index up 2.0%, average price US$787/MT
RenCas index up 6.7%, average price US$6,720/MT
SMP index up 10.0%, average price US$2,224/MT
WMP index up 3.7%, average price US$2,793/MT
The next auction is overnight Tuesday, September 20 with result out Wednesday, September 21.
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