CME: Auction Prices Higher For SMP, WMP
US - The Global Dairy Trade (Fonterra) auction index increased for the first time since early June, moving up 1.7 per cent from the previous event, writes Alan Levitt.
19 October 2011
1 minute read
Higher prices for SMP and WMP
offset declines in AMF and cheese.
The weighted average price for SMP was $3,292
($1.49/lb.), up three per cent from the 4 October auction.
SMP from the United States
(DairyAmerica) averaged $3,041/ton ($1.38/lb.) for November delivery. The weighted
average price for WMP was $3,503/ton ($1.59/lb.), up 5.7 per cent from the previous event.
Meanwhile, AMF dropped 1.7 per cent to $3,645/ton ($1.65/lb.), the lowest price since AMF
came on the auction platform in November 2009.
Cheddar cheese for industrial use
received an average winning bid of $3,497/ton ($1.59/lb.), down 8.4 per cent.
The auction had no impact on NDM futures, which were unchanged today.
In the first seven months of the year, NDM/SMP exports from the EU, US, NZ and
Australia were up 166,000 tons (+25 per cent) from a year ago.
The largest import increases
came from Algeria (+37,000 tons), Mexico (+34,000 tons), China (+16,000 tons) and Brazil (+11,000 tons).
Further Reading
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