Wednesday, November 14, 2018
 World Dairy Prices Continue To Fall  

Average prices of dairy products fell to their lowest level since early December in Fonterra's latest online auction, adding to evidence the steam in coming out of global commodity prices.

The GDT-TWI Price Index fell 5.1 percent to US$3,796 a metric ton, according to results posted on the globalDairyTrade auction website. That follows a 6.7 percent decline in the last sale two weeks ago.

Prices fell for a third straight sale though they're still well above the 10-year average for the Real GDT-TWI. Global commodity prices have eased amid signs economic growth isn't as sturdy as expected. The Thomson Reuters/Jefferies CRB Commodity Index of 19 commodities has declined about 7 percent from the 2.5-year high it reached in late April.

Skim milk powder fell 5.2 percent to US$3,488 a ton and whole milk powder dropped 4 percent to US$3,475 a ton. Anhydrous milk fat fell by an average 12.5 percent to US$4,614 a ton, milk protein concentrate dropped 10.2 percent to US$5,525 a ton and rennet casein fell 1.4 percent to US$9,992 a ton.

Butter milk powder, which hasn't traded in recent auctions, rose 0.3 percent to US$3,345 a ton.

There were 97 winning bidders from 122 participants over eight rounds. The platform has 348 qualified bidders, up from 347 in the last auction.

Additional Product Results from the July 19th globalDairyTrade auction:
Whole Milk Powder (WMP)
Average Price (USD/MT FAS) $3,475/ ton ($1.58 / lb.) - down 11% from June 1st auction

Anhydrous Milk Fat (AMF)
Average Price (USD/MT FAS) $4,614/ ton ($2.09 / lb) – down 19 % from June 1st auction

Skim Milk Powder (SMP)
Average Price (USD/MT FAS) $3,488/ ton ($1.58 / lb.) - down 20% from June 1st auction

Average Price (USD/MT FAS) $4,315/ ton ($1.96 / lb.)

Milk Protein Concentrate (MPC)
Average Price (USD/MT FAS) $5.525/ ton ($2.51 / lb) - down 10.2% from July 5th auction

Rennet Casein (RenCas)
Average Price (USD/MT FAS) $9,992/ ton ($4.53 / lb) - down 1.4% from July 5th auction


Posted on Tuesday, July 19, 2011 (Archive on Tuesday, July 26, 2011)
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