News | Rural
19 Mar 2018 23:34
NZCity News
NZCity CalculatorReturn to NZCity

  • Start Page
  • Personalise
  • Sport
  • Weather
  • Finance
  • Shopping
  • Jobs
  • Horoscopes
  • Lotto Results
  • Photo Gallery
  • Site Gallery
  • TVNow
  • Dating
  • SearchNZ
  • NZSearch
  • RugbyLeague
  • Make Home
  • About NZCity
  • Contact NZCity
  • Your Privacy
  • Advertising
  • Login
  • Join for Free

  •   Home > News > Rural

    GDT prices slip for first time this year

    Dairy prices at Fonterra's fortnightly GDT auction have slipped for the first time this year, nudging down 0.5 per cent.


    Dairy product prices have declined at the Global Dairy Trade auction, sliding for the first time this year after three consecutive increases.

    The GDT price index eased 0.5 per cent on Wednesday morning from the previous auction two weeks ago. The average price was $US3623 ($NZ5,072) a tonne. Some 20,256 tonnes of product was sold, down from 22,197 tonnes two weeks ago.

    Whole milk powder eked out a 0.3 per cent gain to $US3246 a tonne.

    "Even though the whole milk powder result was not strong this time around, the average WMP price is 8 per cent higher than it was a month ago," Amy Castleton, AgriHQ dairy analyst, said in a note.

    Skim milk powder fell 3 per cent to $US1832 a tonne, while anhydrous milk fat declined 1.9 per cent to $US6458 a tonne.

    "Skim milk powder prices remain under pressure from high stock levels in both Europe and the US and thus strong competition from these regions," Ms Castleton said.

    Cheddar slid 1.3 per cent to $US3686 a tonne.

    Meanwhile, rennet casein gained 0.7 per cent to $US4980 a tonne, while butter rose 1.1 percent to $US5334 a tonne.

    "Demand for the commodity has been keeping anhydrous milk fat prices high, but AMF has been overpriced relative to butter on a milkfat content basis for quite some time," Ms Castleton said.

    "The fall in AMF prices and lift in butter prices now has the stream returns for the two commodities relatively aligned."

    No prices were available for lactose and butter milk powder was not offered.

    The New Zealand dollar last traded at US73.60 US cents as of 12.13pm in New York, compared with US73.72c at the previous close in Wellington.

    There were 114 winning bidders out of 152 participating at the 14-round auction. The number of registered bidders rose to 527, up from 524 at the previous auction.


    © 2018 NZN, NZCity

     Other Rural News
     09 Mar: Skim milk price spike sparks GDT probe
     07 Mar: Dairy prices slip on increased supply
     05 Mar: Fonterra GM becomes ambassador to Korea
     22 Feb: Shares gain as investors take a2 above $9b
     22 Feb: A2 Milk a $10b company, eclipsing Fonterra
     21 Feb: A2 shares jump 25pc on Fonterra deal
     20 Feb: Fonterra likely to hike milk payment: OMF
     Top Stories

    Folau and Waratahs to soar to new heights More...

    NZ dollar slips as rate decisions awaited More...

     Today's News

    Rugby League:
    NRL's duty to help reform players: Auva'a 21:55

    Vladimir Putin: How to understand the Russian President's view of the world 21:35

    Law and Order:
    Ute stolen, set alight with dogs inside 21:15

    Facebook suspends Cambridge Analytica whistleblower Chris Wylie 19:55

    Folau and Waratahs to soar to new heights 19:55

    With a concealed gun in class, why a teacher believes he can stop a school massacre 19:05

    Hunt fined but free to play for Qld Reds 18:55

    Labour gives details of camp inquiry 18:35

    NZ dollar slips as rate decisions awaited 18:05

    Law and Order:
    NZDF help police in cannabis bust 17:25

     News Search

    Power Search

    © 2018 New Zealand City Ltd