Decrease for milkpowder price on Global Dairy Trade

Milk powder prices on the Global Dairy Trade have taken a step back after several months of gains. Mozzarella follows the same trend, while cheddar, butter and AMF are moving higher. At the first auction of June, the average price declined by 0.6% to $4,021 per tonne. During the May events, prices showed an upward trend. Milk powders stand out the most. Whole milk powder fell by 2.2% to $3,706 per tonne, while skim milk powder dropped by 3% to $3,457 per tonne. For skim milk powder, European product offered by Belgium-based Solarec cleared slightly below New Zealand product. Overall, the decline suggests that the market is pausing after a period of recovery. Butter prices, which were significantly corrected in recent months, are now edging higher again, rising by 1.2% to $5,734 per tonne. AMF increased more strongly, up 5.3% to $6,668 per tonne. As with milk powders, European butter traded at a discount to New Zealand product. Cheese prices show a mixed picture. Mozzarella declined sharply by 4.6% to $3,942 per tonne, relating to European product offered by Solarec and Arla. New Zealand cheddar increased by 1.8% to $4,621 per tonne. Traded volume increased by nearly 1,500 tonnes to 14,364 tonnes, following the previous auction where the lowest volume in more than ten years was recorded.