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Wednesday, 22 November 2017 09:07

GDT price index dips 3.4%

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Dairy prices have fallen for the fourth straight auction. Dairy prices have fallen for the fourth straight auction.

Dairy prices have fallen for the fourth straight auction.

The Global Dairy Trade price index dipped 3.4% over the previous auction.

Whole milk powder fell 2.7%, SMP fell 6.5%, and butter fell 5.9%.

Westpac head of NZ Strategy Imre Speizer says the results disappointed earlier futures market predictions of a small rise on WMP.

Full results

AMF index unchanged, average price US$6,887/MT

Butter index down 5.9%, average price US$5,144/MT

BMP not offered

Ched index down 4.2%, average price US$3,831/MT

LAC index not available, average price not available

RenCas index down 12.6%, average price US$4,644/MT

SMP index down 6.5%, average price US$1,701/MT

WMP index down 2.7%, average price US$2,778/MT

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$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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