GLOBAL – Word dairy prices made a big step higher yesterday, led by a surge in Whole Milk Powder prices.
Milk powder leapt 19.2 per cent as the overall Global Dairy Trade Price Index grew sizeably for the first time in over a year, lifting 9.4 per cent.
This is the biggest movement in WMP prices since a trough started in August last year.
A major depreciation in Cheddar was reported at Fonterra’s sale, plunging a further 11.1 per cent after a slight New Year price recovery.
Bidders pushed Skimmed Milk Powder prices 6.7 per cent higher.
Butter and Rennet were the other products to close higher, up 6.1 and 7.7 per cent respectively.
Anhydrous milk fat, -5.4 per cent, and butter milk powder, -0.4 per cent, closed lower.
TheCattleSite News Desk