Wednesday, 19 July 2017 09:05

Butter’s dream run continues

Written by Rural News Group

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GDT star performer, butter enjoyed another strong jump in prices overnight.

Global Dairy Trade (GDT) star performer, butter enjoyed another strong jump in prices overnight.

At the latest GDT auction, butter prices rose 3.4% over the previous auction to US$6004/tonne.

Overall the GDT auction saw little price movement- the price index was up just 0.2%.

Whole milk powder prices, a major indicator of Fonterra’s milk payout to farmers was up 0.3% to US$3114/tonne. Skim milk powder was down 3.2%.

Key results

AMF index down 0.2%, average price US$6,577/MT

Butter index up 3.4%, average price US$6,004/MT

BMP not offered

Ched index up 1.6%, average price US$4,112/MT

LAC index down 1.8%, average price US$825/MT

RenCas index up 2.4%, average price US$6,358/MT

SMP index down 3.2%, average price US$2,024/MT

WMP index up 0.3%, average price US$3,114/MT

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