fbpx
Print this page
Wednesday, 20 November 2019 09:23

Skim milk powder back in the game

Written by  Staff Reporters
Skim milk powder prices have risen to the highest level in five years. 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 

More like this

Returns lift, costs down - DairyNZ

The outlook for dairy farmers this season has improved, especially when compared to forecasts only six months ago, according to DairyNZ.

Dairy demand on the rise

There is increasing evidence that dairy demand is on the upswing, according to Rabobank senior agricultural analyst Emma Higgins.

Featured

National

Green but not much grass!

Dairy farmers in the lower North Island are working on protecting next season, according to Federated Farmers dairy chair Richard…

Council lifeline for A&P Show

Christchurch City Council and the Canterbury Agricultural and Pastoral Association (CAPA) have signed an agreement which will open more of…

Struggling? Give us a call

ASB head of rural banking Aidan Gent is encouraging farmers to speak to their banks when they are struggling.

Machinery & Products

Tractor, harvester IT comes of age

Over the last halfdecade, digital technology has appeared to be the “must-have” for tractor and machinery companies, who believe that…