The sixth Global Dairy Trade auction of the year has posted a drop in dairy product prices of 2.9%.
This fall comes after dairy product prices rose 1.4% on March 1 for the first time this year.
New Zealand bank ASB had suggested that the Global Dairy Trade would rise by between 1 and 5%.
It also hinted that Whole Milk Powder (WMP) could be up by as much as 7% however, the latest auction showed WMP prices to be down by 0.8%.
Rennet Casein posted the lowest decrease (-7.0%) followed by Anhydrous Milk Fat (AMF) which was down by 6.5%.
Butter Milk Powder (BMP) posted the highest increase (+6.4%).
Global Dairy Trade – Key Results
- AMF index down 6.5%, average price US$3,014/MT
- Butter index down 2.8%, average price US$2,733/MT
- BMP index up 6.4%, average price US$1,545/MT
- Ched index down 5.6%, average price US$2,441/MT
- LAC index up 0.8%, average price US$624/MT
- RenCas index down 7.0%, average price US$4,083/MT
- SMP index down 2.5%, average price US$1,731/MT
- WMP index down 0.8%, average price US$1,971/MT