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Saturday, 24 December 2016 10:40

Global dairy prices dip

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Global dairy prices dip

After four successive price increases, global dairy prices dipped slightly in Global Dairy Trade auction overnight.

The GDT price index was down 0.5%; whole milk powder prices dipped 0.8% to US$3568/tonne.

The slight drop in prices is not expected to impact forecast milk payouts announced by Fonterra and other independent processors.

Some 22,321 tonnes of product was sold last night, down from 22,472 tonnes at the previous auction.

Key results

AMF index down 2.3%, average price US$5,367/MT

Butter index up 0.5%, average price US$4,290/MT

BMP index up 3.1%, average price US$2,874/MT

Ched index up 1.9%, average price US$3,826/MT

LAC index down 1.6%, average price US$857/MT

RenCas index up 3.3%, average price US$6,473/MT

SMP index unchanged, average price US$2,621/MT

WMP index down 0.8%, average price US$3,568/MT

More like this

$10.25/kgMS milk price now in play

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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