The May and June WMP futures contracts each lifted by US$100/t, to reach US$2010/t and US$2150/t respectively. A week ago the May contract was priced at US$1870/t and the June contract at US$1980/t.
While the March 2016 WMP futures contract is below the price for WMP achieved at the last GlobalDairyTrade (GDT) event – the futures contract is priced at US$1860, while WMP reached US$1890 at GDT – futures contracts from April have now surpassed this price.
There were a total of 13 trades on Friday, all but one for WMP. The other single trade was for the March 2016 anhydrous milkfat (AMF) futures contract. Five of these trades were for 100t of product each, though the AMF trade was for just 5t.
Prices for the skim milk powder (SMP), anhydrous milkfat and butter futures contracts have not moved over the last few trading days. SMP and AMF prices improved a little over the past week, however, with some of the nearer-dated contracts increasing in price. Butter prices have not moved from this time last week.
Prices for all products are still well below levels they were achieving a month ago, however.
