Overall product prices increased by 1.3% at the latest Global Dairy Trade auction in New Zealand, but the trade for some of the products on offer was mixed.
Whole milk powder (WMP) prices were up by 1% at today’s auction, while lactose prices improved by 12.4% to reach US$910/MT.
Skimmed milked powder (SMP) prices only improved slightly and were up by 0.1% and butter prices jumped by 4.9% at the latest Fonterra auction.
However, the price of cheddar, rennet casein and butter milk powder all declined at today's auction.
- AMF index up 4.0%, average price US$5,765/MT
- Butter index up 4.9%, average price US$4,593/MT
- BMP index down 7.5%, average price US$2,254/MT
- Ched index down 3.7%, average price US$3,798/MT
- LAC index up 12.4%, average price US$910/MT
- RenCas index down 0.4%, average price US$6,445/MT
- SMP index up 0.1%, average price US$2,608/MT
- WMP index up 1.0%, average price US$3,314/MT
European Milk Production down in November
EU milk deliveries were 3.7% lower in November 2016 than the corresponding month in 2015, the sixth consecutive month with a reduction, the latest figures from the EU Milk Market Observatory (MMO) show.
This is the equivalent of a decrease of 440,000t on November 2015 levels.
In the first 11 months of 2016, EU milk collections were up by 0.7% on the same period in 2015.
Significant decreases have been reported in major producing Member States such as the UK, France and Germany, although in some others, such as Poland, Ireland and The Netherlands, the decline is not that pronounced.
For the January to November period of 2016, Irish milk production was up 4.8% on the 11 month period previous, while UK production fell 4.2%.