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The Global Dairy Trade (GDT) auction overnight saw the price index slump 7.4%.
Global dairy prices plunged overnight putting further pressure on a depressed farmgate milk price.
The Global Dairy Trade (GDT) auction overnight saw the price index slump 7.4%.
But of more concern to farmers will be the 10.9% drop in whole milk powder prices to US$2,548/metric tonne, the lowest in five years.
One year ago, WMP prices were around US$3,733/MT.
But subdued buying from Chinese customers has seen demand wane over the past 12 months.
A slow recovery of China’s food service sector has left Fonterra’s biggest market buying less products on GDT.
Fonterra recently slashed $1 off its forecast milk price range mid-point – from $8/kgMS to $7/kgMS. The latest GDT result means another revision may be on the cards.
GDT results
Global Dairy Trade Event 338 concluded with the GDT Price Index down 7.4%
Key Results
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 dairy sector cannot expect India to be a market for all its dairy products.
Meat processor ANZCO Foods’ net profit has plunged on the back of lower market returns which squeezed margins and impacted business performance.
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