Business Dairy
Global Dairy Trade is predominantly red
The first Global Dairy Trade of September means little encouraging news for the dairy market. With the exception of skimmed milk powder, all major manufacturers show a decrease.
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Although the trend is negative, at the same time the losses are not too bad. The average price drops 1% to $2.955 per tonne. The biggest losses are for whole milk powder (-2% to $2.884), followed by butter (-1,2% to $3,334) and cheddar (-0,4% to $3,428). Skimmed milk powder, on the other hand, increased by 1,8% to $2,663 per tonne and is the positive exception.
Traded volume on the rise
The last time the GDT rose convincingly was mid-July. In August, the dairy auction, organized by Fonterra, continued to lose ground and September is also off to a disappointing start. One bright spot is the traded volume, of more than 35.000 tons, the largest since December.