News Global Dairy Trade
Milk powder crashes hard on Global Dairy Trade
The Global Dairy Trade is not yet able to break the downward trend. At the first auction in November, the quotations are once again predominantly red. The milk powders in particular get hit hard.
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Prior to the auction, there was little prospect of any form of stabilization. The dairy market is still subject to downward pressure. In Europe, but also elsewhere on the world market. The average price on the Global Dairy Trade drops 3,9%. This is the third decline in a row, but it is slightly more moderate than during the previous auction in mid-October.
With a drop of no less than 8,5%, skimmed milk powder falls below the limit of $3.000 per tonne. Prices moved above this limit for more than a year. Whole milk powder is also under pressure and fell by 3,4% to $3.279 per tonne. The falling prices are a sign of little purchasing interest from China, as has been the case for some time.
Butter and cheddar
Unlike milk powders, butter and cheddar do not drop any further. The butter price is almost stable at $4,868 per tonne. Cheddar rose 0,9% to $4,802 per tonne. The traded volume is relatively low at 28.867 tonnes.