GDT Price Index increased by 2%.
In this month’s second Global Dairy Trade auction, hosted on Tuesday by GDT Events, international milk prices increased although quantities decreased, according to Reuters.
With an average selling price of $4,072 per tonne, the GDT Price Index rose 2%. At the prior auction, the index increased 4.9%, according to GDT Events.
According to the auction platform’s website, 26,106 tonnes in total were sold at the most recent auction, a decrease of around 3.8% from the one before.
The New Zealand currency may be impacted by the auction outcomes since the dairy industry contributes more than 7% of the country’s GDP.
Nearly one-third of the global dairy trade is under the authority of the 10,500 or so farmers that make up the New Zealand milk cooperative.
Despite being owned by Fonterra Co-operative Group Ltd. of New Zealand, GDT Events is run separately from the world’s largest dairy company. The trade manager for the Global Dairy Trade auction, which takes place twice a month, is US-listed CRA International Inc. The next auction is set for October 4.
Key Results:
- AMF index up 4.0%, average price US$5,901/MT
- Butter index down 0.2%, average price US$5,356/MT
- Ched index up 2.1%, average price US$5,147/MT
- SMP index down 0.7%, average price US$3,547/MT
- WMP index up 3.7%, average price US$3,733/MT
