Wednesday, 04 November 2020 09:30

Dairy prices fall

Written by  Staff Reporters
Last night‘s GDT auction saw a 2% drop. Last night‘s GDT auction saw a 2% drop.

Global dairy prices have dipped for the first time six weeks.

After three successive Global Dairy Trade events recording increases in the price index, last night‘s auction saw a 2% drop.

A similar drop was also recorded in the price of whole milk powder, which Fonterra uses to set its milk payout. WMP price now sits at US$2985/MT.

Butter was the biggest gainer, rising 3.9% to US$3822/MT.

Full results

AMF index down 2.6%, average price US$4,002/MT

Butter index up 3.9%, average price US$3,822/MT

BMP index up 1.2%, average price US$2,617/MT

Ched index down 0.8%, average price US$3,786/MT

LAC index not available, average price not available

SMP index down 4.4%, average price US$2,722/MT

SWP index not available, average price not available

WMP index down 2.0%, average price US$2,985/MT 

More like this

$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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