The average price for dairy products at the last GDT auction was $4,041 per tonne, down $2 from the previous auction. 39,093 tonnes of exchange-traded goods were sold, down 2,372 tonnes from the previous auction. The minimum bid was 36,884 tonnes, the maximum bid was 44,757 tonnes. 165 dairy market operators took part in the auction, down 11 from September 2. The price of dehydrated milk fat fell to $6,802 per tonne, down 1.5% from the previous auction. In Europe, milk fat prices fell last week due to lower demand and higher inventories compared to last year.
The auction organizers predict a further decrease in the price of dehydrated milk fat by 3.3% in October and by 1.5% in November. At the last GDT auction, the price of butter was $6,892 per ton, which is 0.8% less than at the previous auction. According to the USDA, the US market is experiencing a "bearish trend": an increase in the supply of cream, repair work at some dairy processing plants and weak demand from the food industry are putting pressure on prices. Demand for American butter abroad remains more stable.
Source: https://delo.ua/news/svitovi-cini-na-molocni-produkti-znizilisya-krim-siru-cedder-rezultati-torgiv-452521
