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Wednesday, 04 October 2017 10:03

Dairy prices slip

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Global dairy prices have unexpectedly dropped in the latest GDT auction. Global dairy prices have unexpectedly dropped in the latest GDT auction.

Global dairy prices have unexpectedly dropped in the latest Global Dairy Trade (GDT) auction.

The GDT price index was down 2.4% compared to the previous auction; flagship whole milk powder price was down 2.7% to US$3037/MT.

The futures market had predicted a 6% rise in WMP prices.

Westpac senior market strategist Imre Speizer says the GDT result was disappointing.

“GDT dairy auction saw prices fall 2.4% overall, with whole milk powder down 2.7% - a disappointing result given futures markets had earlier priced a 6% rise,” he says

The overnight auction also saw fat prices ease from their record highs.

Key results

AMF index down 3.4%, average price US$6,504/MT

Butter index down 3.6%, average price US$5,837/MT

BMP index down 10.3%, average price US$1,804/MT

Ched index up 1.9%, average price US$4,109/MT

LAC index not available, average price not available

RenCas index up 0.9%, average price US$6,123/MT

SMP index down 1.4%, average price US$1,895/MT

WMP index down 2.7%, average price US$3,037/MT

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