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.
Last night’s auction saw WMP prices dip to US$2821/MT. On December 19 last year, WMP price dropped to US$2755/MT, the lowest recorded price over the past two years.
The overall GDT price index dropped 0.7%.
Butter index was down 2.8% to US$4271/MT. However, skim milk powder index was up 2.2% to US$2005/MT.
Key results
AMF index up 0.2%, average price US$5,316/MT
Butter index down 2.8%, average price US$4,271/MT
BMP index up 0.1%, average price US$2,474/MT
Ched index up 4.2%, average price US$3,631/MT
LAC index down 0.5%, average price US$917/MT
RenCas index up 3.7%, average price US$5,326/MT
SMP index up 2.2%, average price US$2,005/MT
SWP index not available, average price not available
WMP index down 2.2%, average price US$2,821/MT
