Wednesday, 17 February 2021 08:44

Dairy's golden run continues

Written by  Sudesh Kissun
The most recent GDT event saw the price index rise 3%. The most recent GDT event saw the price index rise 3%.

Global dairy prices have continued their golden run, with the Global Dairy Trade auction recording its seventh consecutive rise in the price index.

Last night’s GDT event saw the price index rise 3%. Since November last year, the price index has gained over 20%.

GDT’s flagship products- whole milk powder prices continue to rise with last night’s auction recording a 4.3% lift to US$3615/metric tonne.

WMP prices are at levels not seen since December 2016, when it reached US$3593/MT.

Key Results

AMF index up 1.1%, average price US$5,527/MT

Butter index up 2.0%, average price US$5,129/MT

BMP not offered

Ched index up 2.4%, average price US$4,268/MT

LAC index up 0.4%, average price US$1,232/MT

SMP index up 0.3%, average price US$3,207/MT

SWP not offered

WMP index up 4.3%, average price US$3,615/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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