# GDT lifts mood

> Whole milk powder prices at the GDT auction reached their highest level in more than seven months, averaging US$2,265 per tonne after a 9.9% rise. The GDT price index rose 6.6%, and forward WMP contracts for September to February 2017 climbed 10% to 12%. Analysts said global milk production is slowing.

- Date: 2016-08-04 · published 2016-08-04T12:00:00.000Z
- Category: trade · region Global · magnitude medium
- Page: https://feedsoft.ai/events/6038-gdt-lifts-mood
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Rising forward dairy prices and slowing global milk output point to stronger milk prices, which can increase costs for dairy-based feed ingredients.

## Read by commodity

- MILK: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| MILK | 2016-08-04 | 1 | +11.5% | 5.5 | WMP at a seven-month high and forward WMP contracts up 10-12% show strong price momentum and a bullish outlook that would spill into Class III futures. |
| MILK | 2016-08-08 | 5 | +12.3% | 3.9 | WMP at a 7-month high and forward contracts up 10-12% pointed to a broad dairy price repricing that spilled over to CME milk. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2024-04-03 | [GDT bounce-back underpins milk price](https://feedsoft.ai/events/6736-gdt-bounce-back-underpins-milk-price.md) | -4.7% | -5.0% |
| MILK | 2016-08-02 | [Milk prices lift as dairy commodity markets rally](https://feedsoft.ai/events/6034-milk-prices-lift-as-dairy-commodity-markets-rally.md) | +12.3% | +10.9% |
| MILK | 2017-02-28 | [Exports make dairy price forecast good - Brownfield Ag News](https://feedsoft.ai/events/5040-exports-make-dairy-price-forecast-good-brownfield-ag-news.md) | -5.8% | -6.2% |
| MILK | 2018-05-29 | [Exports Provide Milk Prices A Glimmer Of Hope – Histórico eDairyNews](https://feedsoft.ai/events/9761-exports-provide-milk-prices-a-glimmer-of-hope-historico-edairynews.md) | +1.4% | +0.3% |
| MILK | 2021-03-26 | [Odd Conditions Reign Over Export, Dairy, Grain Markets - EDairy News English](https://feedsoft.ai/events/48123-odd-conditions-reign-over-export-dairy-grain-markets-edairy-news-english.md) | +8.1% | +9.0% |

## Sources

- farmersweekly.co.nz: https://www.farmersweekly.co.nz/news/gdt-lifts-mood/

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