Wednesday, October 17, 2018
 Global Dairy Prices Rise on Strong Result for Cheddar, Butter  

Global dairy prices have rose for the sixth time in a row, a sign that the recovery in dairy in 2017 was on track. The Global Dairy Trade (GDT) Price Index climbed 0.6 percent, with an average selling price of $3,395 per ton, in the auction held on June 6th. 

Much of the gain was from cheddar cheese, which rose 14.5 percent to its highest in nearly three years, while butter was up 3.3 percent. Nevertheless, there were signs that prices might start to moderate as more supply of milk powder came on the market.

"Milk output from NZ is expected to lift this season and Fonterra has already made a small upwards revision in the volume of WMP [whole milk powder] expected to be sold on GDT next season," said Amy Castleton, analyst at AgriHQ.

Whole milk powder edged down 2.9 percent at the latest auction, in line with market expectations.
A total of 22,004 tons was sold at the latest auction, an increase of 3.6 percent from the previous one.

The auctions are held twice a month, with the next one scheduled for June 20.


Source: GlobalDairyTrade


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