Wednesday, November 14, 2018
 Global Dairy Prices Rise for Second Auction in a Row as Volumes Drop  

Whole milk powder prices rallied at the GlobalDairyTrade auction, showing stronger than expected gains, although prices for other dairy commodities were more muted.

Product prices climbed 3.8 percent to $2,263 per ton, making it the second consecutive auction of gains. While the total volume of product sold was 21,206 tons, down 6.5 percent.

Prices for whole milk powder were up 7.5%, to their highest level in three months. Rennet Casein also rose 7.5% and lactose posted a rise of 8%, while skim milk powder inched up 0.3 percent. Cheddar was the only product to fall in price with a drop of 3.9%

"This was a strong increase for whole milk powder," said John Lancaster, dairy analyst at FC Stone, adding that it was "a little bit higher than we were expecting".

But Mr Lancaster warned that it was "hard to read too much into a single auction." Global dairy markets still remain marked by heavy production, and sluggish demand.

There were 114 winning bidders out of the 617 that qualified. at the  April 19th auction . The next event is scheduled for May 3rd.

Source: GlobalDairyTrade

Posted on Friday, April 22, 2016 (Archive on Friday, April 29, 2016)
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