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The GDT price index fell 1% to $3,204 a tonne at the 18 October auction, its sixth decline in nine events. Whole milk powder slipped 0.5% to $3,014 and skim milk powder slumped 5.6% to $1,797 a tonne, partly on uncertainty over the EU intervention scheme.
Falling GDT prices and buyers' confidence in supply point to lower global dairy ingredient values. Weaker SMP and WMP reduce the value of dairy-based feed ingredients.
businessdesk.co.nzMargreet DietzOct 17, 2017
nbr.co.nzOct 18, 2017Not 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.
