Wednesday, January 16, 2019
 Dairy Product Prices Inch Higher as Milk Fats Gain While Milk Powders Fall  

Dairy product prices edged higher at the Global Dairy Trade auction, rising for the second time in six auctions, as gains in milk fats offset a decline in milk powders.

The GDT price index rose 0.3 per cent from the previous auction three weeks ago to $3,323. Some 33,501 tons of product was sold, up from 32,260 tons at the previous auction.

Whole milk powder declined 1.6 percent to $3,100 a ton. Whole milk powder “offer volumes are set to increase over the next few events, so buyers are unlikely to feel an urgent need to buy product now,” AgriHQ dairy analyst Susan Kilsby said in a note.

Lactose rose 5.1 percent to $791 a ton, while butter climbed 3.8 percent to $5,954 a ton, and anhydrous milk fat gained 3.6 percent to $6,402 a ton.

Cheddar increased 2.5 percent to $4,118 a ton and rennet casein added 1.2 percent to $6,316 a ton.

Bucking the trend, butter milk powder dropped 10.1 percent to $2,026 a ton, while skim milk powder fell 1.2 percent to $1,944 a ton.

“The dairy commodity market remains focused on the volume of skim milk powder that is in public storage in Europe,” Ms. Kilsby noted. “Product has started to flow back into the intervention scheme before it closes at the end of the month.”

There were 140 winning bidders out of 173 participating at the 15-round auction. The number of qualified bidders rose to 537, up from 522 at the previous auction.

Source: Global Dairy Trade


Posted on Friday, September 08, 2017 (Archive on Friday, September 15, 2017)
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