Wednesday, 20 February 2019 08:58

Sixth straight rise in GDT price index

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The Global Dairy Trade price index was up marginally in the auction overnight with a gain of 0.9%.

The result was the sixth consecutive gain – but nowhere near the hefty 6.7% increase at the last auction two weeks ago.

Key product whole milk powder (WMP) was up just 0.3% to an average price of US$3022/MT.

There were 120 winning bidders from a field of 169 and 25,324MT of product was sold at an average price of US$3271/MT.

Key results

AMF index up 0.7%, average price US$5,620/MT

Butter index up 1.2%, average price US$4,495/MT

BMP not offered

Ched index up 2.9%, average price US$3,667/MT

LAC index down 2.9%, average price US$998/MT

RenCas index up 2.7%, average price US$5,740/MT

SMP index up 2.8%, average price US$2,580/MT

SWP index not available, average price not available

WMP index up 0.3%, average price US$3,022/MT

 

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$7 payout still on the cards

Economists are still sticking to a 2019/20 season forecast of around $7/kgMS despite the 3.8% drop in the Global Dairy Trade overall price index last week.

Dairy prices tumble

Global dairy prices have tumbled in the latest Global Dairy Trade (GDT) event.

 
 

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