Last Tuesday’s GDT event saw another overall decline for milk product prices. This was primarily driven by another poor showing for powders. The price of whole milk powder (WMP) declined almost 12.4%, to $2,782/t.
Skimmed milk powder (SMP) – the second largest commodity traded – also took a large tumble as prices fell by 15.5%, to $2,118/t.
This second consecutive slip in prices is largely down to market instability, where an increase in EU volumes and a decrease in New Zealand volumes has affected trading.
On a positive note for Irish farmers, butter and butter milk powder were the only two commodities.
Source: FarmersJournal
Link: http://www.farmersjournal.ie/dairy-markets-dairy-futures-markets-hit-five-month-low-262171