Milk Glut Drags Fonterra Forecast Down to $9.20/kgMS
A milk glut around the world shows no sign of easing, putting downward pressure on farmgate milk prices for the next few months.
The federated marketing company represents four major US producer owned dairy cooperatives.
It last traded on GDT during 2011 to 2014.
Chief executive Dan Block says “ongoing change in digital technology, customer needs and international trading arrangements means that DairyAmerica continually reviews its sales strategy to ensure we provide more options to our customers”.
“We have always viewed GDT as playing a positive role in the international market and now is the right time for DairyAmerica to expand contracting choices with the GDT Events platform.”
GDT director Eric Hansen welcomed DairyAmerica’s return to GDT Events and says during its former participation it successfully sold large quantities of skim milk powder (SMP) to a diverse range of buyers.
“Compared to when they previously participated on GDT, we can now provide DairyAmerica with more choices over who sees their supply information and how their winning prices are published,” Hansen says.
“We look forward to working with DairyAmerica once again and providing access to a truly global and diverse pool of active buyers to achieve credible price discovery for their products.”
DairyAmerica members include Agri-Mark Inc, California Dairies Inc, O-AT-KA Milk Producers Inc and United Dairymen of Arizona.
DairyAmerica markets 100% of the SMP, nonfat dry milk (NFDM) and buttermilk powder (BMP) produced by its members. It is the single largest US supplier of these products, reaching at least 50 countries.
