GDT dairy auction rebounds in April

The first New Zealand GDT auction for April ended on a positive note with the index rising 2.8%, halting a run of back to back price drops in March.

Five of the seven GDT auctions in 2024 have now recorded higher prices and this week’s event was helped by smaller volumes of stock being traded.

Across the main commodities offered, butter rose by 3.1% with cheddar up 4.1%.

Milk powder forms the bulk of trading within the GDT and both skim and whole milk powder increased by 1.4% and 3.4% respectively.