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.
The big gains in the Global Dairy Trade auction two weeks ago were mostly retained in last night’s auction.
The GDT price index dropped slightly, by 0.7% to US$3,201/MT. Fonterra’s flagship product, whole milk powder lifted 0.6% to US$3,218/MT. In the previous auction WMP had jumped 14% and the price index rose 8.3%.
In last night’s auction butter was the biggest loser, with average price dropping 4.9% to US$3533/MT.
Key results
AMF index down 2.8%, average price US$3,870/MT
Butter index down 4.9%, average price US$3,533/MT
BMP not offered
Ched index up 0.6%, average price US$3,803/MT
LAC index down 2.5%, average price US$1,279/MT
SMP index down 0.5%, average price US$2,680/MT
SWP index not available, average price not available
WMP index up 0.6%, average price US$3,218/MT
