Dairy Trends: GDT lifts again as Fonterra increases milk price forecast
The GDT recorded its fourth consecutive increase this week, after the benchmark dairy index posted a 1.7% lift in average selling prices. The GDT has recorded strong growth since the start of August, but this week’s event was more subdued as the price of whole milk powder (WMP), the most important commodity traded on the GDT, saw a marginal decline (-0.2%) to just over $2,780/t.
This flat performance for WMP was offset by a 3% increase in the price of skimmed milk powder, which has now risen more than $300/t in the last month to just under $2,300/t.
Continuing the recent trend ...