Wednesday, 20 June 2018 10:18

Dairy prices dip

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The second Global Dairy Trade (GDT) auction of the new season saw a slight drop in dairy prices.

In the overnight auction, the GDT price index dropped 1.2% over the previous event. The first event of the NZ dairy season two weeks ago saw the price index dip 1.3%.

Whole milk powder price was down 1% overnight to an average price of $US$3189/metric tonne.

Key Results

AMF index down 2.5%, average price US$6,060/MT

Butter index up 0.8%, average price US$5,611/MT

BMP not offered

Ched index down 3.6%, average price US$3,847/MT

LAC index up 8.2%, average price US$769/MT

RenCas index down 2.2%, average price US$4,898/MT

SMP index down 1.1%, average price US$2,003/MT

SWP index not available, average price not available

WMP index down 1.0%, average price US$3,189/MT

 

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The 2.7% jump in last week’s Global Dairy Trade overall price index – with a 3.6% bounce in whole milk powder – was a surprise, economists agree.

Forecasts steady as demand holds

Banks are mainly holding firm on their forecasts of $7/kgMS despite last week’s flat Global Dairy Trade result – a small decline of 0.4% in the overall price index.

$7 payout still on the cards

Economists are still sticking to a 2019/20 season forecast of around $7/kgMS despite the 3.8% drop in the Global Dairy Trade overall price index last week.

Dairy prices tumble

Global dairy prices have tumbled in the latest Global Dairy Trade (GDT) event.

 
 

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