Global Dairy Prices Experience First Decline in Four Months, Impacting New Zealand Market
Source: The DairyNews
Dairy prices have taken a dip for the first time in four months, according to the latest results from the global auction GDT in New Zealand. The average price slid by 2.3 percent to US$3630 per tonne, with the influential whole milk powder price witnessing a 2.8 percent drop to $3286 per tonne.
The auction revealed a mixed performance, with cheddar prices rising while butter and skim milk powder prices weakened.
Rosalind Crickett, an NZX dairy analyst, noted that this represents "the largest pricing slump felt on the platform since August last year" and emphasized that the results were in line with expectations. In terms of regional buying patterns, North Asia maintained its position as the leading buyer for both milk powders and butter, while the Middle East claimed the top spot for cheddar purchases.
Among the dairy products, skim milk powder experienced the most significant price decrease, falling by 5.2 percent. Crickett highlighted that, despite the decline, the average price for skim milk powder still remains substantially higher than those observed in December-January.
Industry forecasts from dairy companies suggest a payout of approximately $7.80 per kilogram of milk solids in the current season. The fluctuation in global dairy prices underscores the dynamic nature of the market, with various factors influencing the supply and demand dynamics for these essential commodities.
Rosalind Crickett, an NZX dairy analyst, noted that this represents "the largest pricing slump felt on the platform since August last year" and emphasized that the results were in line with expectations. In terms of regional buying patterns, North Asia maintained its position as the leading buyer for both milk powders and butter, while the Middle East claimed the top spot for cheddar purchases.
Among the dairy products, skim milk powder experienced the most significant price decrease, falling by 5.2 percent. Crickett highlighted that, despite the decline, the average price for skim milk powder still remains substantially higher than those observed in December-January.
Industry forecasts from dairy companies suggest a payout of approximately $7.80 per kilogram of milk solids in the current season. The fluctuation in global dairy prices underscores the dynamic nature of the market, with various factors influencing the supply and demand dynamics for these essential commodities.
