# GDT prices blow their top, milk prices follow

> The Global Dairy Trade index jumped 15 percent to 1346, driven by a 21 percent rise in whole milk powder and 13.7 percent in butter. The index has risen 40 percent since November. Analysts raised their New Zealand milk price forecasts and futures rose after the auction.

- Date: 2021-03-04 · published 2021-03-04T12:00:00.000Z
- Category: market · region New Zealand · magnitude medium
- Page: https://feedsoft.ai/events/7529-gdt-prices-blow-their-top-milk-prices-follow
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

The rally resembles the 2013 market that delivered record milk prices, so farm incomes and dairy feed demand may stay firm. Milk price forecasts and futures moved up sharply in response.

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| MILK | 2021-03-03 | 1 | +4.8% | 4.2 | Describes futures rising after the GDT auction and the 40% index gain since November, reinforcing bullish sentiment, though published a day after the move. |

## Sources

- farmersweekly.co.nz: https://www.farmersweekly.co.nz/news/gdt-prices-blow-their-top-milk-prices-follow/

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