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WMP prices rose 0.1% on the GDT auction platform last week.
Global Dairy Trade (GDT) auction prices were largely unchanged last week.
Overall prices were down 0.1%, while key whole milk powder (WMP) prices were up 0.1%.
Looking at January as a whole, dairy prices have started 2023 on a soft note.
Westpac senior agri economist Nathan Penny nots that cumulatively over the month, overall and WMP prices have fallen 2.8% and 1.2% respectively.
"By product, most price movements were also small," he says.
"Of the five products we monitor, four products posted price changes of less than 1% either way.
"The outlier was cheddar, which saw a 4% price lift overnight. This result was largely in line with futures market expectations."
Global Dairy Trade (GDT) and Arla Foods have announced that Arla will begin offering European-sourced skim milk powder (SMP) on GDT Pulse from May 2025 as part of an extension to the GDT Pulse pilot.
Horticultural prices are set to remain elevated this year, reflecting the balance between demand in key export markets and an increase in supply.
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.
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.
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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