OPINION: Credit where due, NZ Herald at least reported that agricultural leadership had pitched in to do its bit.
A fortnightly online wool auction modelled on the Global Dairy Trade (GDT) will go live for the first trading event on May 22.
Whole milk powder prices were softer at last week’s GDT auction, taking the average price down 1.5% to US$3231/t and the overall price index down 1.1%, says Rabobank dairy analyst Emma Higgins.
The second to last Global Dairy Trade (GDT) event for the 2017-18 production season saw the auction’s price index down 1.1%.
Whole milk powder saw a small lift of 1.6% to US$3278/tonne at last week’s GDT auction despite the small decline in overall prices of 1.6%, says Emma Higgins, from RaboResearch.
Global dairy prices dropped slightly overnight but the flagship whole milk powder price managed a slight increase.
The GDT auction last week was close to expectations, and even included a slightly positive surprise with a 5.5% jump in skim milk powder prices, says BNZ senior economist Doug Steel.