News dairy business
Wrinkle-free GDT bright spot for dairy market
The dairy market has had an extremely difficult start to 2023, but the virtually unchanged prices (except for cheddar) on the Global Dairy Trade seem to be steering towards more stability.
Read this article?
Become a subscriber and get instant access
Choose the subscription that suits you
After a few auctions with significant losses, the GDT shows a remarkably stable picture during the second auction round. With the exception of cheddar, all changes are within the margin of one percent. Cheddar is attracting positive attention with a 4% increase to $4.871 per tonne. It is the first significant upward movement since the end of September. As with the previous auction, the volume traded narrowly exceeds 30.000 tons.
The almost stable movements are a signal that the market may be working towards finding a bottom. A bottom is not yet visible on the European market, because prices are also falling further this week, sellers indicate. In general, buyers are very reluctant to do business assuming that the market will be lower for a few days. Whether the GDT will be able to stimulate the European market will have to be seen in the coming days.