News dairy business
Dairy prices significantly higher on Global Dairy Trade
After a weak period, the dairy market is finally gaining ground again. For the first time since the beginning of February, the Global Dairy Trade is taking a pretty big step up. All dairy products share in the profit, with skimmed milk powder standing out.
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The average price on the Global Dairy Trade, the GDT Price Index, rises 3,2% to $3,362 per tonne. This means that the downward series will not continue. With a price increase of 7%, skimmed milk powder increases in value the most. Followed by cheddar (+5,7%) and butter (+4,9%). With the exception of cheddar, the higher prices are a trend break.
Moreover, such major pluses have been a while ago. The higher prices suggest that there is more buying interest, although this is not confirmed by the volume traded. This fell to around 22.000 tonnes for the third auction in a row. Nevertheless, the higher Global Dairy Trade finally represents a positive incentive for the European market. Prices in the European Union have already rebounded slightly in the past week and this seems likely to continue with this result.