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Skim milk powder prices have risen to the highest level in five years.
Skim milk powder (SMP) is continuing its golden run on the Global Dairy Trade (GDT) auction.
In the GDT auction overnight, SMP price rose 3.3% to $US3017/metric tonne, the highest level in five years.
Over the past few years SMP prices struggled due to the high stocks produced in the EU: huge stockpiles of SMP held by EU members have been holding prices down.
In August 2015, SMP prices slumped to US$1419/MT. Around this time last year, SMP was fetching only US$1965/MT.
The EU stocks are now dwindling and due to lower prices manufacturers have directed milk away from SMP into other product mixes, resulting in a shortage.
This has helped SMP prices reach the highest level seen in five years.
The GDT price index for last night’s auction rose 1.7% compared to the previous auction.
Whole milk powder price rose 2.2% to US$3321/MT.
Key results
AMF index down 1.5%, average price US$5,108/MT
Butter index down 1.3%, average price US$4,061/MT
BMP not offered
Ched index up 2.5%, average price US$3,701/MT
LAC index up 1.3%, average price US$775/MT
RenCas index up 5.6%, average price US$7,668/MT
SMP index up 3.3%, average price US$3,017/MT
SWP index not available, average price not available
WMP index up 2.2%, average price US$3,321/MT
Global Dairy Trade (GDT) and Arla Foods have announced that Arla will begin offering European-sourced skim milk powder (SMP) on GDT Pulse from May 2025 as part of an extension to the GDT Pulse pilot.
A significant rise in Global Dairy Trade (GDT) auction last week has prompted one bank to lift its forecast milk price for the season to above Fonterra's mid-point.
Whole milk powder prices on Global Dairy Trade (GDT) remains above long run averages and a $10/kgMS milk price for the season remains on the card, says ASB senior economist Chris Tennent-Brown.
The first Global Dairy Trade (GDT) auction drew mixed results, with drop in powder prices and lift in butter and cheeses.
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