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Dairy prices, volumes drop at Global Dairy Trade auction

International milk prices and volumes fell in this month’s first Global Dairy Trade auction held by GDT Events, reported Reuters.

The GDT Price Index fell 1%, with an average selling price of $4,981 per tonne, in the auction held on Tuesday.

The index fell 0.9% at the previous sale, according to GDT Events.

A total of 21,511 tonnes was sold at the latest auction, falling about 7.9% from the previous one, the auction platform said on its website .

The prices of various dairy commodities remain as follows :

AMF index down 2.5%, average price US$6,908/MT
Butter index down 0.6%, average price US$6,891/MT
BMP index up 6.3%, average price US$4,461/MT
Ched index up 2.7%, average price US$6,472/MT
LAC index down 0.6%, average price US$1,598/MT
SMP index up 1.0%, average price US$4,599/MT
WMP index down 1.5%, average price US$4,532/MT

The auctions are held twice a month, with the next one scheduled for 19 April.

Dairy prices, volumes drop at Global Dairy Trade auction - Dairy News 7X7

The auction results can affect the New Zealand dollar as the dairy sector generates more than 7% of the nation’s gross domestic product. The New Zealand milk co-operative, which is owned by about 10,500 farmers, controls nearly a third of the world dairy trade.

GDT Events is owned by New Zealand’s Fonterra Co-operative Group Ltd, but operates independently from the dairy giant. US-listed CRA International Inc is the trading manager for the twice-monthly Global Dairy Trade auction.

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