Analysis Dairy Business
Full powder lower on otherwise calm Global Dairy Trade
Fonterra's latest GDT auction was a repeat of the previous auction in terms of average result: the index went down even further. At the level of the individual products, the pluses and minuses of the previous auction were sometimes reversed.
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The index of the GDT auction this time it was -0,9% again, just like last time and dropped from 1011 to 1002. The largest product, whole milk powder (WMP) became 3% cheaper this time at $3173 per ton, where the same product was still slightly lower at the previous auction. price rose.
Skimmed milk powder (SMP) lost $11, slightly less than last time, reaching $2755 per tonne. However, for short-term delivery the price rose by 3%.
Price difference SMP
Another striking aspect is the difference of more than $250 per tonne between European (Arla) product and New Zealand product. The latter type yields the highest yield at around $2850 per tonne.
Butter rose 0,5% to $5088 per tonne, while AMF rose 1,8% to sell for $4728 per tonne. At the previous GDT, AMF actually had to make concessions.
Cheddar was the star in terms of price increase, with a plus of 7,4% and fetching $4668 per tonne.
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With a total of 23.119 tons, a larger volume was sold than three weeks ago. Then 21.560 tons of product changed hands.