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Wednesday, 07 March 2018 10:17

WMP price dip slightly

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WMP price dip slightly

The whole milk powder price slipped for the first time this year at the overnight Global Dairy Trade (GDT) auction.

 WMP price dropped 0.8% to US$3232/metric tonne. Overall, the GDT price index dropped 0.6%, its second drop this year.

Skim milk powder price, which has been languishing for months, jumped 5.5% to US$2051/metric tonne, breaking the US$2000 barrier for the first time since August last year.

Key results

AMF index down 3.2%, average price US$6,245/MT

Butter index down 1.0%, average price US$5,280/MT

BMP index down 4.3%, average price US$1,959/MT

Ched index up 1.7%, average price US$3,759/MT

LAC index not available, average price not available

RenCas index up 2.2%, average price US$5,128/MT

SMP index up 5.5%, average price US$2,051/MT

WMP index down 0.8%, average price US$3,232/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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