GLOBAL - This week's Global Dairy Trade auction showed a reduction in the GDT price index of 1.4 per cent compared with the previous event.
The average price achieved at the event was $2,203 (USD/MT, FAS).
Skimmed milk powder prices fell by 3.6 per cent, whilst whole milk powder prices rose by 0.7 per cent. Butter prices fell by 5.5 per cent, and cheddar prices rose by 1.8 per cent.
UK levy board AHDB Dairy said the data suggested the market may be near the bottom, as despite the overall downward trend, price fluctuations have taken place within a much narrower range.
"Traders are no doubt waiting to see how milk production develops in the Northern Hemisphere over the flush and maybe the start of the Southern Hemisphere’s climb before committing too much to market," AHDB Dairy said.
TheCattleSite News Desk