Dairy product prices fell 3.2% at today's Global Dairy Trade auction. At the last auction, prices increased by 1.3%.
Both skimmed milk powder (SMP) and whole milk powder (WMP) prices recorded decreases of 3.8% and 3.7% respectively.
Yesterday, the futures market hinted that WMP prices would fall between 3-5% at today's auction.
Butter milk powder (BMP) prices recorded the biggest drop in prices, with a decline of 12.9%.
Only butter and lactose prices registered increases in average prices (0.2% and 6.8% respectively).
- AMF index down 1.3%, average price US$5,693/MT
- Butter index up 0.2%, average price US$4,598/MT
- BMP index down 12.9%, average price US$2,090/MT
- Ched index down 5.3%, average price US$3,590/MT
- LAC index up 6.8%, average price US$966/MT
- RenCas index down 5.8%, average price US$6,135/MT
- SMP index down 3.8%, average price US$2,574/MT
- WMP index down 3.7%, average price US$3,189/MT
Meanwhile, figures show that in total, EU-28 milk deliveries for the three months were down 3.4% on the previous year, exceeding the applied for volumes under the EU Milk Production Reduction Scheme.
AHDB Dairy has said that the actual change in milk deliveries over the period varied across Member States, with some reducing production by more than the applied for volumes, and others increasing total production.
The UK applied for the third largest reduction volume at 109m litres, with actual production dropping by more than double this amount.
Although certain Member States delivered more milk in total than the applied for reduction, payouts may not be affected depending on individual results, it said.