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The Global Dairy Trade price index rose 5.1 percent to 1593, a record high surpassing the April 2013 peak. Whole milk powder rose 5.7 percent to US$4757 a tonne and butter rose 5.9 percent.
A record GDT index signals strong global dairy demand and tight milk supply, which supports dairy prices and farmgate payouts and sustains demand for dairy-linked feed inputs.
rnz.co.nzTe Reo Irirangi o AotearoaMar 1, 2022Not 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.
Record GDT index jump of 5.1% on March 1 (whole milk powder +5.7%, butter +5.9%) signaled strong global demand and tight supply, lifting US Class III futures in sympathy.
Record GDT index (+5.1%) on 2022-03-01 signaled strong global dairy demand and tight supply, supporting US dairy futures including Class III.
