UK activists have resumed their attack on the dairy industry.
After eleven consecutive rises, the Global Dairy Trade (GDT) price index dropped in the overnight auction.
The Global Dairy Trade (GDT) price index rose just 0.4% last week, but positive indicators will maintain market optimism for the new season, says BNZ senior economist Doug Steel.
Dairy prices continued to edge higher in last night’s Global Dairy Trade (GDT) auction with the aggregate price index up 0.4%.
Soaring butter prices may see next season’s milk price go beyond $7/kgMS – even as high as the mid sevens.
The Global Dairy Trade (GDT) price index has now risen in ten consecutive auctions and is up 23% since the start of the year.
Whole milk powder, butter and cheese prices were the big drivers of the eighth bounce in a row for the Global Dairy Trade (GDT) last week, says Emma Higgins, Rabobank dairy analyst.
Adding an auction in Europe should have no price impact overall on dairy prices, says Global Dairy Trade director Eric Hansen.