This is a subscriber-only article
Global dairy prices were up 4.2% at the Global Dairy Trade auction held on Tuesday. It is the second consecutive price rise of 2019.
Skim milk powder (SMP) prices were the main movers at the latest auction, with prices up 10.3%.
Butter prices were up 4.6%, whole milk powder (WMP) prices increased 3% and cheddar prices were up 4.2%.
The only commodity to suffer a price drop was rennet casein, with prices down 1.4%.
SMP out of intervention
The surge in SMP prices comes after 80,000t of the product was sold out of EU intervention stocks last week.
Now, just 22,200t of stock remains in intervention.
At the latest tender sale, the SMP sold at a minimum price of €1,554.90/t, a rise of 7% on the last tender sale.
SHARING OPTIONS: