News dairy market
Global Dairy Trade continues to sprinkle with big pluses
Just when the dairy market in Europe seemed to be stretched, the Global Dairy Trade (GDT) continues to rise sharply. The advance seems to be endless, since October the mood-setting dairy auction in New Zealand has shown significant price increases.
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The first auction in March was also successful with an average price increase of 5,1% to $5,065 per tonne. The cheddar quotation stands out and increases by more than 10% to $6,394 per tonne. This breaks the existing record. Cheddar is in high demand worldwide, while supplies are tight. Extremely tight even. There is almost a fight over volumes, as a trader indicated last week.
Butter and milk powders are also higher
It is also striking that butter and milk powder traded more expensively on the GDT. The prices for these products on the European market were similar last week still to be leveled off. Skimmed milk powder increases by 4,7% to $4,481 per tonne, whole milk powder by 5,7% to $4,757 per tonne. The butter quotation rises by almost 6%, breaking the barrier of $7.000 per tonne.
The convincing GDT result on the European dairy market will undoubtedly generate a number of votes. Whether our prices will also respond to this can be seen on Thursday afternoon from the DCA dairy quotations that will then be published.