Tuesday, August 21, 2018
 Global Dairy Prices Fall After Six Auctions of Gains  

Dairy product prices dropped slightly at the June 20th Global Dairy Trade auction, the first decrease after six consecutive gains. The GDT Price Index fell 0.8%, with an average selling price of $3,434 per ton. 

 

The fall at the latest auction was led by weaker-than-expected prices for whole milk powder (WMP), which fell 3.3% compared to derivative markets expectations of a 1.3% rise.

 

"WMP has been selling regularly over recent months, so some buyers have sufficient coverage for now. The quantity of WMP sold to North Asia was less than seen at recent events," said Amy Castleton, an analyst at AgriHQ.

The cheddar price index dropped 3.8%t, skim milk powder (SMP) prices rose 1.4%, and butter was up 2.9%.


A total of 21,171 metric tons of product were sold, which is 3.8% less than at the previous acution. There were a total of 160 participating bidders with 111 winning bidders. The auctions are held twice a month, with the net one schedule for July 4.


 

Source: Global Dairy Trade


Posted on Thursday, June 22, 2017 (Archive on Thursday, June 29, 2017)
Posted by bholcomb@adpi.org  Contributed by bholcomb@adpi.org
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