Wednesday, 16 August 2017 09:09

Disappointing GDT result

Written by Rural News Group

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Westpac senior market strategist Imre Speizer.

Last night’s Global Dairy Trade (GDT) auction was disappointing relative to market predictions, says Westpac senior market strategist Imre Speizer.

He notes whole milk powder prices slipped 0.6% to US$3143/MT; this was unexpected as the milk futures market had predicted a 4% rise.

The GDT price index dipped 0.4% compared to the last auction.

Fat-based products- butter and anhydrous milk fat- also slipped; butter down 1.3% and AMF 1.2%.

Skim milk powder was slightly up – 0.3% to US$!968/MT.

Key results

AMF index down 1.2%, average price US$6,199/MT

Butter index down 1.3%, average price US$5,735/MT

BMP not offered

Ched index up 1.4%, average price US$4,005/MT

LAC index down 4.9%, average price US$747/MT

RenCas index up 2.9%, average price US$6,255/MT

SMP index up 0.3%, average price US$1,968/MT

WMP index down 0.6%, average price US$3,143/MT

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