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Global Dairy Trade not yet hinting at market recovery
The second Global Dairy Trade of August doesn't yet give any reason to believe the dairy market will recover after the summer holidays. The outcome is predominantly...
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Only AMF and whole milk powder recorded a small increase of up to 0,3%. The rest of the manufactured goods are declining. The largest decline was recorded for mozzarella, which fell by 2,7% to $4.447 per ton.
Considering developments in the European market, the decline isn't surprising. European mozzarella is still considerably cheaper on the global market. A lack of demand has driven prices down in recent weeks.
Butter sank further
Butter prices also fell for the fourth consecutive auction, this time by 1% to $7.144 per ton. This brings the price down to its lowest level since January. The auction result is being weighed down by "cheap" supply from New Zealand. Product from European suppliers was still trading above the $8.000 per ton mark.
Skimmed milk powder fell 1,8% to $2.756 per tonne, maintaining the fluctuating price pattern of recent months.