Quotations for all dairy products covered in the Index fell, especially skimmed milk powder. The continued decline in prices reflects abundant export availability, above all in Oceania.
In addition, a movement away from the production of cheese by the European Union for sale to the Russian Federation, has resulted in increased output of butter and skimmed milk powder within the Union. Elsewhere, the fall in skimmed milk prices has stimulated whole milk powder production, as manufactures seek to adjust products to ensure the best returns.
