Major rise at latest Global Dairy Trade auction
Fonterra’s Global Dairy Trade for dairy products saw prices rise by 9.4% in the latest auction, which took place today (Tuesday).
The rise comes following Fonterra’s last dairy trade auction in late January also showing an increase of 1.0% in the overall auction index. The last four GDT auctions have now yielded a positive result.
Recent auctions have been much more positive result for dairy products than seen at previous Fonterra auctions held since last summer.
All products traded showed an increase in price index compared to the previous auction with key product Whole Milk Powder (WMP) prices up 19.2% on the previous auction. WMP averaged $2,874/tonne across all contracts.
At the auction the average weighted butter price was up 6.1% from the last auction, butter averaged $3,783/tonne at today’s auction.
The previous trading, in early January, was up 1.0%.The next trading event is February 3.
- AMF index down 5.4%, average price US$4,067/MT
- Butter index up 6.1%, average price US$3,783/MT
- BMP index down 0.4%, average price US$2,436/MT
- Ched index down 11.1%, average price US$2,636/MT
- LAC not offered
- RenCas index up 7.7%, average price US$8,776/MT
- SMP index up 6.7%, average price US$2,598/MT
- SWP index not available, average price not available
- WMP index up 19.2%, average price US$2,874/MT