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Wednesday, 21 February 2018 11:21

Whole milk powder continues dream run on GDT

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Whole milk powder prices have lifted for the fourth consecutive time this year. Whole milk powder prices have lifted for the fourth consecutive time this year.

Global dairy prices have broken their golden run of 2018. However, whole milk powder prices have lifted for the fourth consecutive time this year.

Last night’s Global Dairy Trade (GDT) auction saw the price index drop 0.5% compared to the previous auction after lifting for the first three auctions this year.

Whole milk powder price rose slightly. 0.3% to US$3246/metric tonne.

Butter rose 1.1% to US$5334/MT. Skim milk powder dipped 3% to US$1832/MT

WMP price rose for the fourth consecutive auction, rising from a year-low US$2755/MT on December 19 last year.

Key Results

AMF index down 1.9%, average price US$6,458/MT

Butter index up 1.1%, average price US$5,334/MT

BMP not offered

Ched index down 1.3%, average price US$3,686/MT

LAC index not available, average price not available

RenCas index up 0.7%, average price US$4,980/MT

SMP index down 3.0%, average price US$1,832/MT

WMP index up 0.3%, average price US$3,246/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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