The FAO Dairy Price Index - January 2015
The FAO Dairy Price Index averaged 173.8 points in January, essentially the same level as in December. A decline in prices for cheese and skimmed milk powder was counterbalanced by a rise in the price of butter, while whole milk powder was unchanged. The fall in the value of the Euro has caused export quotations from Europe to converge with offerings from Oceania and the United States. The arrival of new supplies to the world market is being tempered by dry weather in Oceania, which is leading to an accelerated decline in seasonal milk production, while output in the European Union as a whole has been curbed to avoid over-quota levies, as the April-March quota year draws to a close.
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