Global dairy trade price index goes down


WELLINGTON; Global Dairy Trade price index goes down on Wednesday amid lower market demand for milk fats. The GDT price index fell 0.5 percent from 3,481 U.S. dollars per tonne at the previous auction two weeks ago to 3,467 U.S. dollars per tonne, its first decline since early September. A total of 36,258 tonnes of product was sold, down from 37,968 tonnes two weeks ago.


The decrease was driven by lower demand for milk fats which offset strong prices continuing for milk powders, NZX dairy analyst Robert Gibson said. Whole milk powder increased just 0.1 percent to 3,331 US dollars per tonne. It was the highest average price in three years, according to Gibson.


Rennet casein increase 4.9 percent to 8,047 US dollars per tonne, and cheddar gained 2.7 percent to 3,797 US dollars per tonne. Skim milk powder grew 1.9 percent to 3,068 US dollars per tonne. On the other hand, anhydrous milk fat decreased 5.1 percent to 4,840 US dollars per tonne, while butter fell 4.9 percent to 3,983 US dollars per tonne.


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