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The Global Dairy Trade price index fell 1.2% at the latest auction, with whole milk powder down 1% to US$3189 a tonne. Record New Zealand milk collections on improved weather weighed on the powder prices.
Cheddar fell 3.6% while butter rose 0.8%.
Lower GDT prices reflect ample export milk supply, which pressures dairy commodity prices and gives buyers some relief on dairy ingredient costs.
odt.co.nzJohn LewisJun 19, 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.
