Prices down on Global Dairy Trade

22 Aug, 2018 09:52 AM
Comments
0
 
Prices fell on the Global Dairy Trade auction on Tuesday.
The index was down 3.6 per cent to an average price of $US3044 - the lowest price this year.
Prices fell on the Global Dairy Trade auction on Tuesday.

Prices fell at the Global Dairy Trade auction on Tuesday evening.

The index was down 3.6 per cent to an average price of $US3044 - the lowest price this year.

The fall was led by a big drop in the butter index, down 8.5 per cent to $US4392.

The key whole milk powder index was down 2.1 per cent, the skim milk powder index was 1.3 per cent and the cheddar index was down 4.7 per cent.

The only upside was the rennet casein index, up 2.8 per cent.

The fall continues the trend since the beginning of June, with prices falling since then.

The fall comes despite concerns about production in Europe in the wake of drought there.

Dairy Australia industry analyst Sofia Omstedt said a hot and dry summer continued to cause headaches for dairyfarmers.

"The remarkably cold winter delayed pasture growth and resulted in cows being housed for longer," she said.

"Fodder shortages developed in Ireland and caused significant financial stress.

"Following the cold winter, an exceptionally hot and dry summer emerged.

"The hot weather has affected the fodder and grain outlook and Europe looks set to produce the smallest grain harvest for six years."

Ms Omstedt said sustained fodder shortages in several key producing countries could restrict milk production if current conditions continued, offering some hope of higher milk prices.

POST A COMMENT


Screen name *
Email address *
Remember me?
Comment *
 
Fertigation is the injection of fertilisers, soil amendments and other water-soluble products through an irrigation system. 
16 Apr 19 Fertigation is the injection of fertilisers, soil amendments and other water-soluble products through an irrigation...
A fertigation trial in south-east Queensland for the past two years has shown it produces more pasture and cuts labour and fuel costs.
16 Apr 19 A fertigation trial in south-east Queensland for the past two years has shown it produces more pasture and cuts...
light grey arrow
This project was doomed from the start. Sri Lanka's Department of Animal Production and Health
light grey arrow
What an awesome article, this will save so much time and money for farmers across the world with
light grey arrow
The $1 a litre milk has already forced closure of numerous dairy farms. Lion Dairy & Drinks
An industry survey revealed that farmers milking larger herds have adopted more precision technologies, and that is expected that by 2025 the adoption of technologies for data capturing and monitoring system parameters will increase.
08 Apr 19 An industry survey revealed that farmers milking larger herds have adopted more precision technologies, and that is...
Virtual fencing (VF) technology has great potential to alleviate the costs, time and labour devoted to the establishment and maintenance of traditional physical fences.
08 Apr 19 Virtual fencing (VF) technology has great potential to alleviate the costs, time and labour devoted to the...
Australian farm chemical manufacturer Nufarm has repaired its balance sheet and is now hunting for acquisition opportunities.25 Sep 16 Australian farm chemical manufacturer Nufarm has repaired its balance sheet and is now hunting for acquisition...
Monopoly market may confront cropping sector under mega-merger proposal.22 Sep 16 Monopoly market may confront cropping sector under mega-merger proposal.