Saturday, October 20, 2018
 Dairy Prices Inch up, Volumes Fall At Global Dairy Trade Auction  

Global dairy prices inched up at auction, rebounding slightly from a fall at a similar sale earlier in the month, according to Global Trade Events which holds the bi-monthly auction.

The Global Dairy Trade (GDT) Price Index edged up 0.2 percent, with an average selling price in the auction of $3,387 per ton. The index had slipped 0.4 percent at the previous sale, moderating after a strong run earlier in the year.

After two years of declining prices, farmers and analysts had been concerned that a 50 percent rebound during 2016 could be temporary, but prices got back on track in recent months as global supply tightened.

“Dairy prices were largely unchanged overnight,” ASB said in a research note. “Butter prices set a fresh record high … this is the tenth time that butter has set a new record high this year.”

Gains were led by butter, which jumped 3.4 percent, while whole milk powder was up 0.3 percent.
That was offset by a 3.2 percent fall in skim milk powder and a 1.8 percent decline in lactose.

A total of 26,688 tons was sold at the latest auction, falling 6.6 percent from the previous one. The auctions are held twice a month, with the next one scheduled for Aug. 1.






Source: Global Dairy Trade


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