The first Global Dairy Trade auction of 2016 recorded a decrease of 1.6% on the last auction held on December 15, 2015.

The main movers were butter – up 6.7% and lactose – up 11.4% while whole milk powder was down 4.4% and skim milk powder was down 0.8%. Some 25.6m tonnes of product were sold to 166 bidders.

Global Dairy Trade Key Results

AMF index down 2.7%, average price US$3,644/MT Butter index up 6.7%, average price US$3,314/MT BMP index up 1.0%, average price US$1,586/MT Ched index up 3.5%, average price US$2,964/MT LAC index up 11.4%, average price US$594/MT RenCas index up 3.9%, average price US$4,736/MT SMP index down 0.8%, average price US$1,890/MT WMP index down 4.4%, average price US$2,210/MT

At the last Global Dairy Trade, held in December, overall dairy prices were up 1.9% – a lower than expected increase with many signalling that recent activity of the New Zealand futures market suggested a rise of 10% could be possible.

Key Results – December 15

AMF index up 6.1%, average price US$/MT
Butter index up 9.0%, average price US$/MT
BMP index down 6.1%, average price US$/MT
Ched index up 1.1%, average price US$/MT
LAC index up 6.8%, average price US$/MT
RenCas index down 9.5%, average price US$/MT
SMP index up 0.2%, average price US$/MT
WMP index up 1.8%, average price US$/MT