Dairy product prices up again, whole milk powder slips

Photo: ODT files
Photo: ODT files
Dairy product prices inched higher at the Global Dairy Trade auction, rising for the 11th straight time, even as whole milk powder posted a third consecutive decline.

The GDT price index gained 0.4% from the previous auction three weeks ago. The average price was US$3,490 a tonne, compared with US$3,447 a tonne three weeks ago. Some 15,375 tonnes of product was sold, down from 16,166 tonnes three weeks ago.

Whole milk powder, however, eased 0.5% to US$3,249 a tonne.

"Whole milk powder (WMP) lost ground for the third consecutive event," ANZ Bank economists Susan Kilsby and Miles Workman said in a note.

"WMP nearby contracts, associated with the current dairy season's production, were better supported and prices were generally aligned with market expectations," according to Kilsby and Workman. "WMP prices are very close with where they were this time of the season in the past two years."

At the latest GDT auction, rennet casein climbed 3.1% to US$6,610 a tonne, while skim milk powder advanced 2.8% to US$2,521 a tonne, and anhydrous milk fat rose 1.4% to US$6,217 a tonne.

Butter was steady at US$5,486 a tonne.

Meanwhile, cheddar fell 2.4% to US$4,217 a tonne, while lactose fell 2.7% to US$887 a tonne, and butter milk powder sank 10.3% to US$3,242 a tonne.

For sweet whey powder, no product was offered or sold, or no price was published for the last event, or on both of the two previous events.

There were 105 winning bidders out of 179 participating at the 14-round auction. The number of registered bidders was 529, up from 527 at the previous auction.

- BusinessDesk

Add a Comment

 

 

drivesouth-pow-farming.png