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Global Dairy Prices Continues to Rise
USAgNet - 05/17/2017

Global dairy prices rose for the fifth time in a row in fortnightly auctions, putting to rest any jitters that a recovery in dairy in 2017 was temporary. The Global Dairy Trade Price Index climbed 3.2 percent, with an average selling price of $3,313 per tonne, in the auction held in the early hours of Wednesday morning.

After two years of declining prices, farmers and analysts had been concerned that a 50 percent rebound during 2016 could be temporary. Prices were also dented at the beginning of the new year as global supply increased, according to Reuters. Much of the gain was for high-fat products such as butter, which rose 11.2 percent, as demand from Asian markets increased.

Prices for milk powder also rose, though more modestly. Whole milk powder prices gained 1.3 percent while skim milk powder prices grew 1 percent.

A total of 21,236 tonnes was sold at the latest auction, falling 6.2 percent from the previous one.

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