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

Some good news ahead on GDT

The Global Dairy Trade (GDT) price index is at a two-year low, but there is some good news ahead, says Rabobank dairy analyst Emma Higgins.

Price slump pressures $6.75 payout

The Global Dairy Trade had its eighth consecutive fall last week putting more downward pressure on Fonterra’s $6.75/kgMS milk price forecast, says BNZ senior economist Doug Steel.

WMP price keeps falling

The whole milk powder price has fallen to an eight-month low in the latest Global Dairy Trade (GDT) auction.


» Latest Print Issues Online

Milking It

Clink clink

The sound of milk bottles is set to return to Marlborough.

‘We help farmers’

Fish & Game took umbrage at a Milking It story on farmer Dean Rabbidge and his tweet. It says contrary…


» Connect with Dairy News