Monday, November 19, 2018
 Prices Dip At Final Global Dairy Trade Auction of 2016  

The final Global Dairy Trade auction of 2016 closed out the year with overall dairy product prices down 0.5%.


The GDT index dropped 0.5% with the average price of $5283 per ton at the December 20th auction. The drop in price had been anticipated by markets when Fonterra announced last week that they would be increasing the amount of WMP on offer.


This was the first negative result since the beginning of October and ended a run of four straight increases.


"There was not quite enough demand to soak up the additional product offered," AgriHQ dairy analyst Susan Kilsby said. Whole milk powder prices also declined 0.8% to $5,152/ton.


Anhydrous milk fat and lactose also fell, while there were gains for rennet casein, butter milk powder, cheddar and butter as skim milk powder held steady.

There were 168 participating bidders with a total of 22,321 metric tons of product sold.


Source: Global Dairy Trade


Posted on Wednesday, December 21, 2016 (Archive on Wednesday, December 28, 2016)
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