Friday, October 19, 2018
 Whole Milk Powder Drives Prices At Last GDT Auction  

The Global Dairy Trade index was up 11.4% at an average of $3,327 per ton. This compares to a merger 1.4% rise at the previous auction on October 18. The November 1st auction saw a staggering 19.8% rise in Whole Milk powder prices with the product trading at $3,317/t. 

 

Skim milk powder, butter and anhydrous milk fat were also up from the last auction. Butter milk powder was down 5.4%, rennet casein was 4.8% lower, and lactose was down 4.0%. 

 

This latest rise means prices have increased in six of the seven auctions held since August, giving confidence to the dairy industry that prices were in the midst of an ongoing recovery.

 

“Dairy markets reacted sharply to tightening milk supply in New Zealand with milk powder prices rocketing up,” said Susan Kilsby, dairy analyst at AgriHQ, in a research note.

 

A total of 27,735 ton was sold at the latest auction, falling 12 percent from the previous auction held on October 18th.

 

The next event is scheduled for November 15th.

 

Source: GlobalDairyTrade
 


Posted on Thursday, November 03, 2016 (Archive on Thursday, November 10, 2016)
Posted by bholcomb@adpi.org  Contributed by bholcomb@adpi.org
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