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After eleven consecutive rises, the Global Dairy Trade (GDT) price index dropped in the overnight auction.
The GDT price index dropped 1.2% over the previous auction to US$3414/metric tonne; the last drop was in November 2018.
Whole milk powder price index was also down 2.1% to US$3180/MT.
Butter also suffered a 3.2% swing, with the average price at US$5297/MT.
Key results
AMF index down 1.4%, average price US$6,140/MT
Butter index down 3.2%, average price US$5,297/MT
BMP not offered
Ched index up 15.2%, average price US$4,851/MT
LAC index up 0.6%, average price US$893/MT
RenCas index up 5.1%, average price US$6,916/MT
SMP index up 0.5%, average price US$2,529/MT
SWP index not available, average price not available
WMP index down 2.1%, average price US$3,180/MT
Global Dairy Trade (GDT) and Arla Foods have announced that Arla will begin offering European-sourced skim milk powder (SMP) on GDT Pulse from May 2025 as part of an extension to the GDT Pulse pilot.
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.
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.
The first Global Dairy Trade (GDT) auction drew mixed results, with drop in powder prices and lift in butter and cheeses.
Weaker milk production in the Northern Hemisphere is keeping dairy prices high.
New Zealand’s special agricultural trade envoy Hamish Marr believes the outlook for the dairy sector remains strong.
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