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Wednesday, 22 May 2019 07:36

GDT price index golden run ends

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GDT price index golden run ends

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

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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.

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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.

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