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 result was the sixth consecutive gain – but nowhere near the hefty 6.7% increase at the last auction two weeks ago.
Key product whole milk powder (WMP) was up just 0.3% to an average price of US$3022/MT.
There were 120 winning bidders from a field of 169 and 25,324MT of product was sold at an average price of US$3271/MT.
Key results
AMF index up 0.7%, average price US$5,620/MT
Butter index up 1.2%, average price US$4,495/MT
BMP not offered
Ched index up 2.9%, average price US$3,667/MT
LAC index down 2.9%, average price US$998/MT
RenCas index up 2.7%, average price US$5,740/MT
SMP index up 2.8%, average price US$2,580/MT
SWP index not available, average price not available
WMP index up 0.3%, average price US$3,022/MT
