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 GDT price index was down 3.4% compared to the previous auction; since early May, the GDT price index has suffered two declines after a golden run of price increases from December 2018.
The whole milk powder index was down 1.5% to US$3,138/metric tonne, despite Fonterra reporting drop in milk production both in NZ and Australia.
Key results
AMF index down 5.7%, average price US$5,752/MT
Butter index down 10.3%, average price US$4,805/MT
BMP index down 10.1%, average price US$2,807/MT
Ched index down 14.0%, average price US$3,950/MT
LAC index up 0.4%, average price US$897/MT
RenCas index up 4.2%, average price US$7,201/MT
SMP index down 4.0%, average price US$2,436/MT
SWP index not available, average price not available
WMP index down 1.5%, average price US$3,138/MT
