News dairy business
After butter and cheese this time milk powder down to GDT
The Global Dairy Trade is again dominated by weakness at the first auction in August. Due to a sharp correction in the price of whole milk powder, the index recorded the largest fall since mid-April.
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At recent auctions, one product has always received negative attention. First it was butter, during the previous auction cheddar had that role and now whole milk powder takes it. With a decline of 8%, the price drops to $2.864 per tonne. Skimmed milk powder fell much more moderately by 1,4% to $2.454 per tonne. In any case, the price drops do not reflect much Chinese purchasing interest, which can sometimes create a lot of mood.
The other major dairy products are moving quietly. Butter fell 0,7% to $4.680 per tonne, while cheddar lost 1,4% to $3.910 per tonne. With more than 32.500 tons, the traded volume shows an increase.