The GDT finishes the year with a negative result but, overall, the benchmark dairy index is in a much healthier position than it was this time last year.
The GDT finishes in a much healthier position than it did this time last year.
ADVERTISEMENT
The GDT recorded a 0.5% decline at this week’s auction in New Zealand. After four consecutive increases, the benchmark dairy index saw a partial decline at this week’s event, mainly due to a fall in the selling price of whole milk powder (WMP).
The average selling price of WMP, which is the most important product traded on the GDT accounting for almost half of sales, was back by almost 1% to less than $3,570/t. Skimmed milk powder prices were flat at just over $2,600/t and were likely not helped by the EU Commission’s decision to begin offloading its more than 350,000t overhang of skim powder currently sitting in intervention across Europe.
Other products to record a decline in average selling prices included anhydrous milk fat (-2%) and lactose (-2%). The dairy commodities to record an increase in selling price were butter (+0.5%), cheddar (+2%), butter milk powder (+3%) and rennet casein (+3%).
ADVERTISEMENT
Just over 22,300t of product were sold at this week’s GDT. Today brings to a close the last auction of the year and the GDT finishes in a much healthier position than it did this time last year. The outlook for global dairy markets and dairy commodity prices suggests that they are on a definitive upward trend.
Register for free to read this story and our free stories.
This content is available to digital subscribers and loyalty code users only. Sign in to your account, use the code or subscribe to get unlimited access.
However, if you would like to share the information in this article, you may use the headline, summary and link below:
Title: GDT declines 0.5% in last auction of 2016
The GDT finishes the year with a negative result but, overall, the benchmark dairy index is in a much healthier position than it was this time last year.
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
CODE ACCEPTED
You have full access to the site until next Wednesday at 9pm.
CODE NOT VALID
Please try again or contact support.
The GDT recorded a 0.5% decline at this week’s auction in New Zealand. After four consecutive increases, the benchmark dairy index saw a partial decline at this week’s event, mainly due to a fall in the selling price of whole milk powder (WMP).
The average selling price of WMP, which is the most important product traded on the GDT accounting for almost half of sales, was back by almost 1% to less than $3,570/t. Skimmed milk powder prices were flat at just over $2,600/t and were likely not helped by the EU Commission’s decision to begin offloading its more than 350,000t overhang of skim powder currently sitting in intervention across Europe.
Other products to record a decline in average selling prices included anhydrous milk fat (-2%) and lactose (-2%). The dairy commodities to record an increase in selling price were butter (+0.5%), cheddar (+2%), butter milk powder (+3%) and rennet casein (+3%).
Just over 22,300t of product were sold at this week’s GDT. Today brings to a close the last auction of the year and the GDT finishes in a much healthier position than it did this time last year. The outlook for global dairy markets and dairy commodity prices suggests that they are on a definitive upward trend.
If you would like to speak to a member of our team, please call us on 01-4199525.
Link sent to your email address
We have sent an email to your address. Please click on the link in this email to reset your password. If you can't find it in your inbox, please check your spam folder. If you can't find the email, please call us on 01-4199525.
ENTER YOUR LOYALTY CODE:
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
SHARING OPTIONS