Dairy prices jump to eight-month high, but whole milk powder lags
Global dairy prices rose to a nine-month high at a fortnightly auction held early on Wednesday but prices for the key product, whole milk powder, were largely flat.
The Global Dairy Trade (GDT) Price Index climbed 1.9pc to an average selling price of $3,637 per tonne in the auction held in the early hours of the morning.
That suggested a 1.1pc drop at the previous sale was a temporary dip and the gradual recovery in prices was back on track.
Gains were led by anhydrous milk fat, which rose 5.8, while skpcim milk powder jumped 3pc.
"Skim milk powder (SMP) was also stronger than expected," said Amy Castleton, dairy analyst at AgriHQ.
"SMP likely found some support from less product being available."
However, whole milk powder, the most-traded item, was only up a touch at 0.2pc.