Dairy product prices fell 1.4% at the latest Global Dairy Trade auction which took place earlier today, May 3.
At the last auction on April 19, prices rose 3.8% with whole milk powder (WMP) rising 7.5%.
At this week’s auction, only three products posted increases in prices – cheddar (+1.8%), rennet casein (+3.5%) and whole milk powder (+0.7%).
The butter index was down 5.5% as was the butter milk powder index by the same percentage. The skimmed milk powder index was down 3.6%.
Earlier this week, New Zealand bank ASB suggested that the auction could post a rise and hinted that whole milk powder (WMP) could rise between 3-5%, however this was not the case following today’s auction.
- AMF index down 1.6%, average price US$3,195/MT.
- Butter index down 5.5%, average price US$2,601/MT.
- BMP index down 5.5%, average price US$1,366/MT.
- Ched index up 1.8%, average price US$2,727/MT.
- LAC index down 2.7%, average price US$693/MT.
- RenCas index up 3.5%, average price US$5,024/MT.
- SMP index down 3.6%, average price US$1,676/MT.
- WMP index up 0.7%, average price US$2,176/MT.