Wednesday, 04 September 2019 10:27

Dairy prices dip slightly

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Global dairy prices dipped slightly in the overnight Global Dairy Trade (GDT) auction.

The GDT price index was down 0.4% compared to the previous auction, with key product whole milk powder down 0.8%, SMP up 0.7%, and butter unchanged.

Key results

AMF index down 1.5%, average price US$4,988/MT

Butter index unchanged, average price US$4,029/MT

BMP index up 3.4%, average price US$2,476/MT

Ched index down 0.8%, average price US$3,827/MT

LAC index down 0.9%, average price US$729/MT

RenCas index up 4.6%, average price US$6,632/MT

SMP index up 0.7%, average price US$2,500/MT

SWP index not available, average price not available

WMP index down 0.8%, average price US$3,076/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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