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Wednesday, 07 October 2015 08:43

Dairy prices continue to soar

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Dairy prices continue to soar

The latest Global Dairy Trade (GDT) auction has delivered more good new for dairy farmers.

This morning's GDT price index rose 9.9%, its fourth consecutive rise.

More importantly, the average price of Fonterra's flagship commodity export - whole milk powder- rose 12.9% to US$2824/tonne.

Skim milk powder price rose 13.4% to US$2267/tone.

 

 

 

 

 

 

Full results

  • AMF index up 9.9%, average price US$3,763/MT
  • Butter index down 2.3%, average price US$3,037/MT
  • BMP index up 13.8%, average price US$1,945/MT
  • Ched index up 0.5%, average price US$3,234/MT
  • LAC index up 5.9%, average price US$524/MT
  • RenCas index up 4.0%, average price US$6,048/MT
  • SMP index up 13.4%, average price US$2,267/MT
  • WMP index up 12.9%, average price US$2,824/MT

 

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$10.25/kgMS milk price now in play

A significant rise in Global Dairy Trade (GDT) auction last week has prompted one bank to lift its forecast milk price for the season to above Fonterra's mid-point.

$10 milk price still on

Whole milk powder prices on Global Dairy Trade (GDT) remains above long run averages and a $10/kgMS milk price for the season remains on the card, says ASB senior economist Chris Tennent-Brown.

Mixed results on GDT

The first Global Dairy Trade (GDT) auction drew mixed results, with drop in powder prices and lift in butter and cheeses.

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