World prices 39% higher than last year

19 Apr, 2017 09:44 AM
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GlobalDairyTrade auction prices rose for the third consecutive time at the auction overnight. Source: GlobalDairyTrade
Skim milk powder reversed the trend of most of the year with a 7.1 per cent increase.
GlobalDairyTrade auction prices rose for the third consecutive time at the auction overnight. Source: GlobalDairyTrade

World dairy prices increased again overnight - and now sit 39 per cent higher than the same time last year.

Prices increased 3.1 per cent to take the average price to $US3139 a tonne compared with $US2263/tonne at the same time last year.

Skim milk powder reversed the trend of most of the year with a 7.1 per cent increase to $US2044 - the first increase in this commodity since early February.

Cheddar also bounced back - up 6.0 per cent - reversing a trend of drops since January.

The key commodity for the New Zealand based auction - whole milk powder - also rose, up 3.5 per cent to $US2998 - 39 per cent higher than the same time last year.

There were an increased number of buyers taking part in the auction - with the number of winning bidders rising from about 113 since to beginning of the year to 130.

The only commodity groups to record a fall were anhydrous milk fat, down 0.5 per cent to $US5930/tonne and rennet casein down 3.8 per cent to $US6020/tonne.

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Can the author please list the reference being quoted above regarding 96% of variation in
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