This week’s GDT event #365 produced another positive result overall, with the overall price index lifting 1.2%, weaker for fats, but generally improved for powders and cheese.
SMP was a little weaker after three positive events, with weaker-than-average demand. Prices were down 0.5% on average to US$2,795/t with falls recorded for almost all contracts. WMP prices improved across most contracts as offered volumes increased, despite starting demand a little below average. The average result was helped by stronger instant results and higher gains for later deliveries as the average price rose 3.2% to US$3,559/t.
Butterfat contracts were mixed with butter suffering from poor demand, while AMF demand came back. Butter prices averaged US$6,407/t, down 2.1%. AMF generally fared better, with a minor dip, with prices down 0.1% on average to US$7,213/t.
Cheddar prices lifted again but remain aligned with the US market where spot values are correcting. On average prices rose 3.7% to US$4,606/t with a jump of 31% in the C1 price. Mozzarella tanked reflecting the wider faltering EU market, down 7.7% to US$4,960/t.

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