Wednesday, 18 October 2017 09:50

Dairy prices dip

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Whole milk powder defied predictions and dropped in the GDT auction overnight. Whole milk powder defied predictions and dropped in the GDT auction overnight.

Whole milk powder (WMP) defied predictions and dropped in the GlobalDairyTrade (GDT) auction overnight.

WMP price dropped 0.5%, compared to the previous auction, to US$3014/MT.

Westpac’s head of NZ strategy Imre Speizer says the drop was “a disappointing result compared to futures pricing which had predicted a 3% rise”.

Skim milk powder price dropped 5.6%; butter also came down 2.5% from its record high. Overall, the GDT price index dropped 1% compared to the last auction.

Key results

AMF index up 5.2%, average price US$6,841/MT

Butter index down 2.5%, average price US$5,736/MT

BMP not offered

Ched index down 0.1%, average price US$4,107/MT

LAC index not available, average price not available

RenCas index down 8.6%, average price US$5,612/MT

SMP index down 5.6%, average price US$1,797/MT

WMP index down 0.5%, average price US$3,014/MT

 

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