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Wednesday, 06 December 2017 09:48

GDT price falls halted

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The GDT auction has broken its run of consecutive price drops. The GDT auction has broken its run of consecutive price drops.

The Global Dairy Trade (GDT) auction has broken its run of consecutive price drops.

After four consecutive drops at previous auctions the GDT price index rose 0.4% in the overnight auction.

The flagship whole milk powder prices rose 1.7% over the previous auction to US$2830/metric tonne.

Butter prices saw an 11% drop to US$4575/mt.

Key Results

AMF index down 0.6%, average price US$6,836/MT

Butter index down 11.1%, average price US$4,575/MT

BMP index up 4.3%, average price US$1,957/MT

Ched index down 3.9%, average price US$3,696/MT

LAC index not available, average price not available

RenCas index up 3.4%, average price US$4,879/MT

SMP index up 4.7%, average price US$1,774/MT

WMP index up 1.7%, average price US$2,830/MT

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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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