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Wednesday, 07 February 2018 10:37

Third rise in dairy prices this year

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Last night’s Global Dairy Trade auction saw the price index up 5.9% over the previous auction. Last night’s Global Dairy Trade auction saw the price index up 5.9% over the previous auction.

Dairy prices have risen for the third consecutive auction this year.

Last night’s Global Dairy Trade (GDT) auction saw the price index up 5.9% over the previous auction.

The flagship whole milk powder prices rose 7.6% to US$3226/metric tonne, the highest it has been in eight months.

Skim milk powder prices rose 7.2%, however it still sits below the US$2000/MT mark.

Butter prices also jumped 7.9%.

Key Results

AMF index up 0.5%, average price US$6,581/MT

Butter index up 7.9%, average price US$5,277/MT

BMP index up 8.4%, average price US$2,039/MT

Ched index up 7.2%, average price US$3,739/MT

LAC index not available, average price not available

RenCas index up 5.0%, average price US$4,943/MT

SMP index up 7.2%, average price US$1,932/MT

WMP index up 7.6%, average price US$3,226/MT

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$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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