Wednesday, 06 March 2019 09:00

Dairy’s golden run

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The GDT price index rose 3.3% last night. The GDT price index rose 3.3% last night.

Global dairy prices are continuing their golden run, with the Global Dairy Trade (GDT) price index posting its seventh consecutive rise overnight.

The GDT price index rose 3.3% last night, compared to the last auction.

Last night’s GDT event also saw whole milk powder prise rise 6% to US$3186/metric tonne.

Butter price has also seen its seventh consecutive lift, rising to US$4657/MT.

Key results

AMF index up 3.9%, average price US$5,837/MT

Butter index up 3.7%, average price US$4,657/MT

BMP index up 11.0%, average price US$3,480/MT

Ched index up 6.0%, average price US$3,888/MT

LAC index up 0.6%, average price US$1,009/MT

RenCas index down 0.1%, average price US$5,649/MT

SMP index down 4.3%, average price US$2,462/MT

SWP index not available, average price not available

WMP index up 6.0%, average price US$3,186/MT

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$7-plus still on the cards

Despite four consecutive drops in Global Dairy Trade (GDT) prices, analysts are sticking with a payout of around $7.20/kgMS for this season.

Is China back?

There was a silver lining to the fourth straight drop in global dairy prices last week: demand in China is recovering.

Dairy fundamentals looking good

Independent economist Cameron Bagrie says dairy fundamentals are looking pretty good, despite the GDT dropping in the past three auctions.

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