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 overnight GDT auction saw the price index slip by 0.3% over the previous auction.
However, there was a bigger drop in the flagship whole milk powder price — down 0.9% to US2729/MT. In mid-June this year, the WMP price was hovering around US$3189/MT but it has fallen over the past six consecutive auctions.
Skim milk powder price remains unchanged at US$1977/MT.
Key results
AMF index up 1.0%, average price US$5,106/MT
Butter index up 2.4%, average price US$4,114/MT
BMP not offered
Ched index down 1.8%, average price US$3,404/MT
LAC index up 1.5%, average price US$926/MT
RenCas index down 1.7%, average price US$5,426/MT
SMP index unchanged, average price US$1,977/MT
SWP not offered
WMP index down 0.9%, average price US$2,729/MT
