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Wednesday, 19 August 2020 08:41

Dairy prices slump

Written by  Staff Reporters
The GDT price index has had its third consecutive drop. The GDT price index has had its third consecutive drop.

The overnight Global Dairy Trade (GDT) auction has delivered another disappointing result.

The GDT price index dropped 1.7%, its third consecutive drop.

Whole milk powder prices slumped 2.2% to US$2936/metric tonne, dipping below the US$3000/MT for the first time since February this year.

Key results

AMF index down 2.9%, average price US$3,873/MT

Butter index down 2.0%, average price US$3,370/MT

BMP not offered

Ched index down 3.6%, average price US$3,442/MT

LAC index down 3.3%, average price US$1,303/MT

SMP index up 1.1%, average price US$2,608/MT

SWP index not available, average price not available

WMP index down 2.2%, average price US$2,936/MT

More like this

$10.25/kgMS milk price now in play

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.

$10 milk price still on

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.

Mixed results on GDT

The first Global Dairy Trade (GDT) auction drew mixed results, with drop in powder prices and lift in butter and cheeses.

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