# NZ dairy hangs on to premium prices

> GDT prices at the first May auction were steady overall, with the index down 0.8%, whole and skim milk powder up slightly, butter down 5.8% and cheddar down 6.8%. Oceania products carry large premiums over EU and US prices.

- Date: 2020-05-06 · published 2020-05-06T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/53135-nz-dairy-hangs-on-to-premium-prices
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Falling butter and cheddar prices at GDT point to global oversupply and soft export demand, while NZ's price premium supports Oceania's export position.

## Read by commodity

- MILK: bearish ▼

## Sources

- farmersweekly.co.nz: https://www.farmersweekly.co.nz/news/nz-dairy-hangs-on-to-premium-prices/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.