The latest Global Dairy Trade (GDT) auction saw mixed results for dairy prices, with most products experiencing increases except for cheddar. Milk prices, in particular, witnessed a significant rise at the auction.
Anhydrous milk fat saw a 5.3 percent increase, reaching a price of US $4787 per metric tonne. Butter prices also showed an upward trend, rising by 3.8 percent to US $4723 per metric tonne. Skim milk powder experienced a similar surge, increasing by 5.4 percent and reaching US $2400 per metric tonne. Whole milk powder also witnessed an increase of 4.6 percent, reaching US $2799 per metric tonne.
However, cheddar prices were down by 1.7 percent, falling to US $4044 per metric tonne. Butter milk powder was not offered at this particular auction.
The overall GDT price index, which is calculated from the total quantity sold across all products in a trading event, showed an increase of 4.6 percent, reaching 913. Although it was the second consecutive increase, it was still significantly lower than the peak of 1593 seen in March last year.
The auction lasted for two hours and 40 minutes and consisted of 121 winning bidders across 19 bidding rounds. The next GDT event is scheduled for Tuesday, October 3.
Sources:
– Global Dairy Trade (GDT)
– NZ Herald