Wednesday, 03 October 2018 09:34

Dairy prices fall, again

Written by 
The GDT price index fell 1.9% overnight. The GDT price index fell 1.9% overnight.

Global dairy prices have fallen again and supply expectations out of New Zealand might be at play.

The Global Dairy Trade (GDT) price index fell 1.9% overnight, compared to the previous auction.

Whole milk powder price dropped 1.2% to US$2753/metric tonne, causing further downward pressure on forecast milk payouts.

Westpac’s head of NZ strategy, Imre Speizer says supply expectations may have weighed on the latest GDT auction.

He notes that growing conditions in NZ are good.

More milk out of NZ means more dairy products available on the global market, causing prices to dip.

Key results

AMF index down 4.4%, average price US$5,069/MT

Butter index down 5.9%, average price US$4,016/MT

BMP index up 3.6%, average price US$2,522/MT

Ched index down 1.2%, average price US$3,468/MT

LAC index up 0.6%, average price US$913/MT

RenCas index up 3.0%, average price US$5,552/MT

SMP index down 0.3%, average price US$1,982/MT

SWP index not available, average price not available

WMP index down 1.2%, average price US$2,753/MT

 

More like this

Prices rise more and sharper

Dairy prices extended and quickened their ascent at last week’s GDT auction and were stronger than anticipated, says BNZ senior economist Doug Steel.

Milk powder sell-off behind price hike

A big reduction in European stocks of skim milk powder (SMP) was behind its whopping 10.3% rise in price at last week’s auction, economists concur.

 
 

» Latest Print Issues Online

Milking It

Burp it up

So, cows are a major source of methane but how do you measure how much gas a cow burps?

Shocking

In Australia, animal activists are taking exception to electric shock collars for use on cattle, calling it the equivalent of…

 
 

» Connect with Dairy News