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Tuesday, 24 January 2023 09:55

GDT opens on soft note

Written by  Sudesh Kissun
WMP prices rose 0.1% on the GDT auction platform last week. 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."

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