Global dairy prices rebound after two-month decline
Global dairy prices have ended a two-month run of losses.
It is the ninth consecutive fall this year and takes the index to its lowest point in 6 years.
Whole Milk Powder (WMP), a key product for Fonterra, dropped 13.1% with an average price of US$1,848/MT. This is the biggest fall for WMP in 12 months. Cheddar also fell sharply, down 13.9%, to US$2,613/MT.
Anhydrous Milk Fat (AMF) and Skim Milk Powder (SMP) saw significant falls, with AMF down 10.6%, to an average price of US$2,621/MT and SMP down 10.1%, to US$1,702/MT.
Butter fell 9.5%, with an average price of US$2,460/MT, while Rennet Casein was down 8.0%, to US$5,430/MT.
Butter Milk Powder also fell 4.4%, to US$1,794/MT.
Lactose saw the night’s only gain, rising 1.9%, with an average price of US$549/MT.
Some 31,691 tonnes of product was traded at the auction.
