Whole milk powder (WMP) futures are now trading at between US$2600/t and US$2700/t through to April 2016. Volumes traded for WMP futures were up, however, with 4642t traded last week (+2011t).
Butter futures have seen even larger declines, of around 15% from that traded the previous week. All contract periods for this commodity have lost approximately US$500/t off their price and are now trading at US$3000/t.
Skim milk powder (SMP) futures saw a decline in both volumes traded and prices. The volume of SMP traded was down 280t from the previous week, trading just 220t. Prices for SMP have fallen to just over US$2000 until January 2016.
Open interest positions fell slightly for SMP futures, anhydrous milkfat (AMF) futures and butter futures, but not for WMP futures. There were approximately 2000 more open interest positions in WMP futures at close last week than at close the previous week. SMP saw a fall of about 1000 open interest positions, while both AMF and butter futures saw a fall of around 100 open interest positions from the previous week.
