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 Global Dairy Trade (GDT) index dropped 0.6% compared to the previous event; pulled down by a 7% drop in anhydrous milk fat (AMF) price. Skim milk powder also slumped 1.8%.
However whole milk powder price is holding up; rising to US$3278/metric tonne.
Butter also rose, up 4% to nearly US$5500/MT.
Key results
AMF index down 7.0%, average price US$5,806/MT
Butter index up 4.1%, average price US$5,494/MT
BMP index up 1.0%, average price US$1,988/MT
Ched index up 2.2%, average price US$3,679/MT
LAC index up 1.1%, average price US$549/MT
RenCas index up 12.1%, average price US$5,668/MT
SMP index down 1.8%, average price US$1,849/MT
WMP index up 1.6%, average price US$3,278/MT
