Wednesday, 16 September 2015 08:30

GDT index continues to climb

Written by Rural News Group

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Dairy farmers will be feeling some relief this morning with the latest Global Dairy Trade auction seeing its third consecutive rise.

The GDT price index rose 16.5% at last night’s auction, with products fetching an average price of US$2568/MT.

Fonterra’s key product Whole Milk Powder saw the biggest gain, the average price rising a massive 20.6% to US$2,495/MT.

Skim Milk Powder also saw a large increase of 17.0%, to an average price of US$1,992/MT.

Most other products saw gains. Anhydrous Milk Fat was up 13.7%, to US$3,440/MT, followed by Butter, which rose 13.3%, to US$3,108/MT and Cheddar up 10.7%, to US$3,206/MT.

Lactose and Rennet Casein saw minor gains, with the prices indexes up 3.1%, (US$499/MT) and 0.6%, (US$5,807/MT), respectively.

Butter Milk Powder was down 1.9%, to an average price of US$1,719/MT.

The auction saw 36,050 tonnes sold, up slightly on the last auction.

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