Sixth consecutive drop in GDT

The Global Dairy Trade (GDT) auction in New Zealand experienced its sixth consecutive drop in price in the latest auction.

The drop represented a 2% decrease compared with the last auction, with the average price standing at $2,851 USD/MT (€2,498).

Butter, cheddar and whole milk powder (WMP) all decreased, while skimmed milk powder (SMP) and butter milk powder increased slightly.

Some 173 winning bidders took part in the auction, a slight decline in the previous auction. In total, 42,412 metric tonnes (MT) were sold.

Prices at the auction are as follows:

AMF index down 1.3%, average price US$5,044/MT.

Butter index down 1.7%, average price US$4,045/MT.

BMP index up 0.8%, average price US$2,568/MT.

Ched index down 4.6%, average price US$3,250/MT.

LAC index down 2.7%, average price US$902/MT

RenCas index down 2.9%, average price US$5,327/MT.

SMP index up 1.2%, average price US$1,997/MT.

WMP index down 2.9%, average price US$2,655/MT.

The drop follows on from months of decline at the Global Dairy Trade auction.