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The GDT index fell by a little over 1% at Tuesday’s auction in New Zealand. The benchmark dairy index was led lower by a 1.5% fall in the average selling price of whole milk powder (WMP) to $3,230/t (€2,695/t). WMP accounts for more than 50% of the product sold at the GDT auction. There were also falls in the average price of anhydrous milk fat (-2%) and casein (-11%).
Skimmed milk powder
On a positive note, the average price of skimmed milk powder (SMP) rose further at this week’s GDT auction by 4% to hit $2,000/t (€1,670/t). Apart from one brief price spike in early March, this is the highest price level for SMP at the GDT since July last year.
Butter prices remained flat at this week’s GDT at $5,650/t (€4,710/t), while butter milk powder prices increased almost 1%. Cheddar prices at this week’s auction were up more than 3% to a little over $4,000/t (€3,360/t). In all, just over 19,500t of product were sold at this week’s GDT.
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