# Prices fall at global dairy auction | RNZ

> At the January 3, 2023 global dairy auction, the average price fell 2.8% to US$3,365 a tonne, and wholemilk powder dropped 1.4% to US$3,208. Prices have declined since peaking in March 2022 amid oversupply and weaker demand.

- Date: 2023-01-03 · published 2023-01-03T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/5546-prices-fall-at-global-dairy-auction-rnz
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Weaker global dairy auction prices reduce returns for exporters and pressure milk prices, with demand softened by inflation and interest rates. This points to continued bearish dairy market conditions.

## Read by commodity

- MILK: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| MILK | 2023-01-05 | 1 | -6.7% | -6.3 | The 2.8% GDT price drop on Jan 3 signaled weaker global dairy demand and oversupply, weighing on US dairy sentiment and export-linked prices. |

## Sources

- rnz.co.nz: https://www.rnz.co.nz/news/business/481891/prices-fall-at-global-dairy-auction

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