Saturday, August 18, 2018
 World Dairy Prices Rise 1.3 Percent at Global Dairy Trade Auction  

World dairy product prices gained at the GlobalDairyTrade auction, bucking expectations for a decline, as both whole and skim milk powder rose. The GDT price index rose 1.3% with an average selling price of $3,537 at the February 7th  auction, while product volume sold was down 3.4% to 21,273 tons.

 

Whole milk powder lifted 1% to $3,314 per metric ton, the first rise in prices seen so far this year.
"Milk powder prices exceeded market expectations," AgriHQ dairy analyst Susan Kilsby said in a note.


Regular grade New Zealand-sourced whole milk powder supplied by Fonterra with an April delivery date was priced at $3,290 per ton, $90 above the price which the February WMP futures contract closed at on Tuesday, Ms Kilsby noted.


Lactose jumped 12.4% to $910 a ton, while butter climbed 4.9% to $4,593.


Anhydrous milk fat gained 4% to $5,765, while skim milk powder inched 0.1% higher to $2,608.
Demand for skim milk powder was considerably better than the 6-percent price fall anticipated by the NZX Dairy Derivatives market, Kilsby said.


Butter milk powder dropped 7.5% to $2,254 a ton, while cheddar fell 3.7% to $3,798 a ton.


There were 104 winning bidders out of 172 participating at the 12-round auction. The number of qualified bidders rose to 530, up from 526 at the previous auction. The next event is scheduled for February 21st.


Source: GlobalDairyTrade


Posted on Thursday, February 09, 2017 (Archive on Thursday, February 16, 2017)
Posted by bholcomb@adpi.org  Contributed by bholcomb@adpi.org
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