Strong production, tested demand send milk prices crashing
Strong global milk production and rebalancing of demand among key buyers has delivered one of the biggest drops in whole milk powder prices in recent years.
The GDT price index was down 1.7% over the previous auction. However, whole milk powder price rose 1.5% to US$2973/MT.
Skim milk powder price also rose slightly, 0.8% to US$1959/MT.
Prices of other commodities dropped – butter was down 8% to US$4953/MT.
Key results
AMF index down 5.2%, average price US$5,629/MT
Butter index down 8.1%, average price US$4,953/MT
BMP index not available, average price US$2,225/MT
Ched index down 3.3%, average price US$3,596/MT
LAC index not available, average price not available
RenCas index down 9.5%, average price US$4,602/MT
SMP index up 0.8%, average price US$1,959/MT
SWP index not available, average price not available
WMP index up 1.5%, average price US$2,973/MT
