Dairy prices slip

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