News Commodities
Global Dairy Trade rebounds after steep fall
The trading prices on the Global Dairy Trade have slightly rebounded yesterday, after prices took a hard hit during the first auction session in July. However, the traded volume shows a slight decline.
With an average price increase of 0.4%, the euphoria is not yet overwhelming, but the overall picture is at least turning positive again. This is largely driven by cheddar, which rises by a significant 6.2% to $4,217 per ton. This completely offsets the loss from the previous auction. Mozzarella, on the other hand, shows a slight decline.
Milk powder down, butter up
Both milk powders are under pressure. The price of the September contract for skimmed product even falls below $2,500 per ton. The October contract is just above this threshold. Full cream milk powder also decreases by 1.6% to $3,142 per ton. This is the lowest level since December last year. The declines indicate that the Chinese demand remains weak, as has been the case for months.
The butter price shows a slight increase of 0.8% to $6,606 per ton. AMF rises by 4% to $6,764 per ton, surpassing the butter price once again.
Volume slightly lower
In general, it can be stated that the demand for dairy is weak. This is also reflected in the traded volume, which drops to 22,954 tons. This may indicate that the demand for dairy during the summer weakness was lower, partly due to vacations.
