Dairy prices up at GDT auction

Milk prices rose at this morning’s Global Dairy Trade (GDT) auction.

Anhydrous milk fat was up 5.3 per cent to US $4787 and butter was up 3.8 per cent to US$4723.

GDT Events said skim milk powder was up too, rising 5.4 per cent to hit US$2400.

Whole milk powder was also up, rising 4.6 per cent to US$2799.

Only cheddar was down, falling 1.7 per cent to $4044.

Butter milk powder was not offered at the latest event.

All prices are for metric tonnes.

The overall GDT price index, calculated from the total quantity sold in a trading event across all products, was up 4.6 per cent to 913.

That was the second increase in a row but still well down from a peak of 1593 at the start of March last year.

There were 121 winning bidders across 19 bidding rounds and the auction lasted two hours and 40 minutes.

The next GDT event is on Tuesday, October 3.

Link to the source: https://www.nzherald.co.nz/the-country/news/dairy-prices-up-at-gdt-auction-this-morning/CCCITYBK4ZE3...