Prices for a number of milk powder futures contracts have lifted while prices for anhydrous milkfat (AMF) futures contracts have fallen.
Whole milk powder (WMP) futures contracts between March and September have lifted since the beginning of the week, though the increases have been small – between US$20/t and US$50/t. Most futures contracts for skim milk powder (SMP) have also lifted. The April contract has increased by US$150/t but most other increase have been much smaller. Both WMP and SMP prices lifted on GDT this week. March futures contracts for both products are aligned with the GDT price achieved for each.
AMF futures contracts between March and June have fallen. The March contract has fallen by US$175/t since Wednesday and the April contract by US$225/t. Both contracts are priced at US$3200/t, which is just under the price achieved for AMF on GDT. The AMF Price Index fell 8.3%.
Butter futures contracts have seen little change since early in the week. The March and May futures contracts have both lifted by US$25/t. Prices had lifted more than this early in the week, but have eased a little.
There were 6 trades on Wednesday, all for WMP. A total of 250t changed hands. There were 13 trades yesterday, almost evenly split between all four commodities. Almost all trades were small, however, with the exception of one 100t trade for WMP. A total of 121t changed hands across the other 12 trades.
