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Tagg: price

Global dairy prices up

International milk prices rallied in the passed Global Dairy Trade auction, adding to the view that the market may be on the road to recovery. The GDT Price Index, which covers a variety of products and contract periods, rose 12.7 percent, with an average selling
price of $2,731 per tonne, in the auction held Tuesday.
Whole milk powder prices, which make up the bulk of the auction, soared 18.9 percent while skim milk powder prices rose 3.0 percent and butter rose 14.1 percent.

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Global Dairy Trade prices finally rally, thanks to supply squeeze

Freefalling milk prices seem to have finally found a bottom, as prices on the Global Dairy Trade (GDT) auction site bounce by 15%, following a rally in the dairy futures market.

Tuesday’s GDTevent, which is run by New Zealand milk giant Fonterra, saw prices for whole milk powder rise 19% from the last event two weeks ago, while prices for anhydrous milk fat soared 27%.

This is the first time prices have risen on the GDT since early March, and mark a recover from the previous auction’s 13-year price low.

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