The GDT rose a further 1.7% at this week’s auction in New Zealand. After recording strong growth over the last three auction events, the benchmark dairy index returned to more subdued growth this week.
Strong increases in the price of milk powders had driven the recent lifts at the GDT. However, whole milk powder (WMP) prices actually weakened marginally (-0.2%) at this latest auction to just over $2,780/t, which served to dampen the overall GDT performance.
WMP is the most important product traded on the GDT auction platform accounting for 50% of all product sold. Encouragingly, SMP prices posted a further rise of 3% at this week’s auction with average prices up to just under $2,300/t.
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Continuing the recent trend of greater demand for fats, there were further increases in the average selling price of butter (+4%), butter milk powder (+7%) and anhydrous milk fat (+5%). The average price of cheddar (+2%), lactose (+4%) and casein (+2%).
Volumes sold at this week’s GDT auction were just over 35,000t.
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The GDT rose a further 1.7% at this week’s auction in New Zealand. After recording strong growth over the last three auction events, the benchmark dairy index returned to more subdued growth this week.
Strong increases in the price of milk powders had driven the recent lifts at the GDT. However, whole milk powder (WMP) prices actually weakened marginally (-0.2%) at this latest auction to just over $2,780/t, which served to dampen the overall GDT performance.
WMP is the most important product traded on the GDT auction platform accounting for 50% of all product sold. Encouragingly, SMP prices posted a further rise of 3% at this week’s auction with average prices up to just under $2,300/t.
Continuing the recent trend of greater demand for fats, there were further increases in the average selling price of butter (+4%), butter milk powder (+7%) and anhydrous milk fat (+5%). The average price of cheddar (+2%), lactose (+4%) and casein (+2%).
Volumes sold at this week’s GDT auction were just over 35,000t.
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