Global Dairy Trade Auction Results Mixed
GLOBAL - Global Dairy Trade (GDT) auction results released today show price declines in almost every product category except Cheddar cheese and lactose, writes Mary Ledman, Sara Dorland, Sarina Sharp and Karen Endres on 1 May 2012.Anhydrous Milkfat
posted the largest decrease, -13.6 per cent to
$2,852/MT or $1.29/lb. vs. the previous
bi-monthly auction. AMF was offered
in each month, July through November
2012. The July contract closed at the lowest level, $2,706/MT or $1.23/lb.,
while the November contract settled at
$3,125/MT or $1.42/lb.
Skim milk powder (SMP) was offered
in each month, June through November
2012 but not from all suppliers. Low
Heat Regular SMP, supplied by US
based Dairy America, was only offered
in the June and July contract periods at
$2,500/MT or $1.13/lb.
Danish supplier,
Arla Foods offered Medium Heat
Regular SMP also at $2,500/MT in the
July contract. SMP prices increased
in later contract periods.
Fonterra supplied the highest priced
Low Heat SMP for November delivery at $2,965/MT or $1.34/lb.
Cheddar cheese and lactose prices
increased 3.1 per cent and 3.0 per cent, respectively.
Fonterra Cheddar cheese delivered in
July closed at $2,800/MT or $1.27/lb.;
however, product for August delivery
settled at $4,220/MT or $1.91/lb. on very
small volume of 150 MT, or 330,700 lbs.
CME spot Cheddar cheese trading
was very active today as 16 loads of
cheese traded. The spot block market
closed unchanged at $1.5350/lb. while
the barrel market settled 3.7¢ higher at
$1.4650/lb. Double-digits gains were
posted in Class III futures MAY through
SEP after the spot cheese market.
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