EU dairy products' prices were generally down last week, except for whole milk powder (WMP) (+0.4%) and whey powder (+0.8%).
World dairy quotations improved in the last fortnight for the three regions. Biggest increases were seen for butter (US$4958/t, +11.3%) and skimmed milk powder (SMP) (US$1648/t, +8.2%) in the US and WMP (US$1850/t, +7.2%) in Oceania. US is fetching the highest prices of the regions for butter, WMP and cheddar which the EU quotes the highest price for SMP.
The spot milk price in the Netherlands was up to 25.5 c/kg last week (+8.5%).
Feed and energy cost indexes again decreased, 3.7% and 5.5% respectively.
It was the second consecutive GDT auction with a double digit increase. The GDT price index was up 10.9% on the previous auction. Fonterra offered 18,000t of WMP, the same volume as the previous auction. The WMP Price Index gained 12.1%.The new milk production season in Australia saw a 7.6% gain in the first month (July).
