Business Dairy
Skimmed milk powder sprints at GDT auction
The air on the skimmed milk powder market is starting to clear, according to the results of the Global Dairy Trade today (May 19). But across the board, the dairy market is not…
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The skimmed milk powder quotation rises by no less than 6,7% to $2.549 per tonne. This is the highest level since mid-March. Milk powder prices have also recently been on the rise again in Europe. The recovery is due to the fact that supplies were tight before the corona crisis arrived at the beginning of this year. This allows the market to recover now that demand in Asia is recovering.
Butter and cheddar down
The price of whole milk powder remains virtually stable (-0,5% to $2.677 per tonne). The butter price, on the other hand, is down: -1,9% to $3,803. The Cheddar quotation gets a big boost for the second auction in a row, dropping 6% to $3.864 per tonne, the lowest level since December. The traded volume amounts to 16.787 tons, a fraction more than during the previous auction.