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The Global Dairy Trade price index fell 1.9% at the latest auction, with whole milk powder down 1.2% to US$2,753 per tonne and butter down 5.9%. Demand for whole milk powder stayed strong, with North Asia buying over half of the volume sold.
Lower GDT prices reflect rising New Zealand milk supply, which weighs on global dairy prices, while Chinese buying ahead of the January tariff change offers some support.
odt.co.nzJohn LewisOct 2, 2018Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
