fbpx
Print this page
Wednesday, 16 August 2017 09:09

Disappointing GDT result

Written by 
Westpac senior market strategist Imre Speizer. 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

More like this

Export prices set to remain elevated

Horticultural prices are set to remain elevated this year, reflecting the balance between demand in key export markets and an increase in supply.

Feds, banks lock horns

Major rural lenders are welcoming a call by farmers for the Commerce Commission to investigate their net-zero emissions target.

Popular Reads

Featured

Editorial: Sensible move

Editorial: Sensible move

OPINION: The Government's decision to rule out changes to Fringe Benefit Tax (FBT) that would cost every farmer thousands of dollars annually, is sensible.

National

Machinery & Products