News Global Dairy Trade
Milk powder price knows what it means to rise again
After a few sharp price drops, price developments on the Global Dairy Trade are now showing a stabilisation. The milk powders even show a considerable upward correction. Butter and cheese are a bit weaker.
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With an increase of 2,4%, the average price amounts to $3.623 per tonne. This is mainly due to the upward movement of the milk powders. Both full and skimmed powder rose 3,1% to $3.397 and $3.057 per tonne respectively. These are the first serious price increases since mid-September. The GDT thus confirms that the falling milk powder prices may have gone too far downwards. The European milk powder market has also recently started to feel more positive.
Butter and cheddar
The butter price remains virtually unchanged, with a decline of 0,8%, at $4.829 per tonne. The cheddar price should increase 1,3% to $4.746 per tonne, also a mild decline. The Global Dairy Trade thus provides starting points for more stabilization in the dairy market, which has been devastated by inflation fears in recent weeks.