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Wednesday, 07 September 2016 10:13

GDT up 7.7%

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GDT up 7.7%

Global Dairy Trade Event 171 concluded overnight with the GDT price index up 7.7%

The average price was US$2920/MT with 131 winning bidders over 14 rounds.

The all-important whole milk powder index was up a more modest 3.7% with an average price of US$2793/MT.

Key results were:

AMF index up 15.4%, average price US$4,769/MT

Butter index up 14.9%, average price US$3,764/MT

BMP index up 6.8%, average price US$2,070/MT

Ched index up 9.0%, average price US$3,436/MT

LAC index up 2.0%, average price US$787/MT

RenCas index up 6.7%, average price US$6,720/MT

SMP index up 10.0%, average price US$2,224/MT

WMP index up 3.7%, average price US$2,793/MT

The next auction is overnight Tuesday, September 20 with result out Wednesday, September 21.

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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.

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