Global Dairy Trade figures: Happy new year for dairy prices
The first international dairy trading session for 2021 has produced some pleasing results for the sector — following on from a bullish trend last month.
A NEW Year bounce of nearly four per cent has been notched up in the first Global Dairy Trade figures for the 2021 calendar year.
This week’s GDT headline auction figure was a jump of 3.9 per cent — equating to an average price of US$3420 (A$4410) — the fourth consecutive rise on the international exchange since mid-November.
Butter led the way with a 7.2 per cent jump to an average price of US$4526 (A$5832).
Prices for milk powder are up in both categories — skim up 4.1 per cent — US$3044 (A$3922) — and whole milk up 3.1 per cent — US$3306 (A$4260).
In a report released last month, Rabobank analyst Michael Harvey suggested direct or indirect government intervention in agriculture would play a key role in determining dairy prices heading into 2021.
This week, American Secretary of Agriculture Sonny Perdue announced that the US Department of Agriculture would purchase an additional $1.5 billion worth of food for nationwide distribution through the Farmers to Families Food Box Program.
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