GDT price index dips 3.4%

The Global Dairy Trade price index dipped 3.4% over the previous auction.

Whole milk powder fell 2.7%, SMP fell 6.5%, and butter fell 5.9%.

Westpac head of NZ Strategy Imre Speizer says the results disappointed earlier futures market predictions of a small rise on WMP.

Full results

AMF index unchanged, average price US$6,887/MT

Butter index down 5.9%, average price US$5,144/MT

BMP not offered

Ched index down 4.2%, average price US$3,831/MT

LAC index not available, average price not available

RenCas index down 12.6%, average price US$4,644/MT

SMP index down 6.5%, average price US$1,701/MT

WMP index down 2.7%, average price US$2,778/MT