Tridge summary
The FAO Dairy Price Index remained almost unchanged from July and increased by 1.7 points (1.7 percent) year-on-year, averaging 102.0 points in August. This was largely due to a decrease in quotations for cheese and whole milk powder, driven by anticipated ample export availability in Oceania for the new production season. Conversely, butter prices increased due to tighter export availability in Europe, attributed to an increase in internal demand and a hot spell that reduced milk production. Additionally, skim milk powder quotations rose due to steady global import demand for future deliveries and reduced milk production in Europe.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
The FAO Dairy Price Index averaged 102.0 points in August, almost unchanged from July and up 1.7 points (1.7 percent) from the corresponding month last year. Quotations for both cheese and whole milk powder (WMP) fell due to reduced demand for spot supplies on expectations of ample export availabilities in Oceania in the new production season. By contrast, price quotations for butter increased as a result of tightening export availabilities in Europe due to a rise in internal demand while the August hot spell reduced milk production, which was already ...
Source: eDairyNews
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