# Dairy price rally continues, GDT index up 5.1pc to record - NZ Herald

> The GDT price index rose 5.1 percent to a record 1593 at the Global Dairy Trade auction, surpassing the April 2013 high. Analysts noted Russia and Ukraine's large influence on wheat and corn markets, suggesting the crisis is contributing to elevated feed prices.

- Date: 2022-03-01 · published 2022-03-01T12:00:00.000Z
- Category: geopolitics · region Black Sea · magnitude medium
- Page: https://feedsoft.ai/events/8438-dairy-price-rally-continues-gdt-index-up-5-1pc-to-record-nz-herald
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Record dairy prices and Black Sea disruption to wheat and corn supply both support higher feed costs, tightening the feed-grain outlook for buyers.

## Read by commodity

- CORN: bullish ▲
- MILK: bullish ▲
- WHEAT: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| MILK | 2022-03-02 | 1 | +6.3% | 3.9 | Reports the record GDT result and ties the Russia-Ukraine crisis to elevated grain and feed prices, adding sentiment and input-cost support for dairy prices. |
| MILK | 2022-03-08 | 5 | +8.5% | 2.8 | Record GDT plus Russia-Ukraine grain disruption raised feed cost and sentiment, adding upward pressure on milk prices. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2017-11-08 | [Rising oil markets should boost dairy prices -  Premium](https://feedsoft.ai/events/10557-rising-oil-markets-should-boost-dairy-prices-premium.md) | +2.1% | -5.8% |
| MILK | 2022-03-18 | [The Commodity Boom Thunders Through Feed And Dairy Markets - EDairy News English](https://feedsoft.ai/events/42418-the-commodity-boom-thunders-through-feed-and-dairy-markets-edairy-news-english.md) | +0.1% | +8.7% |
| MILK | 2022-03-21 | [Dairy outlook bullish through 2022](https://feedsoft.ai/events/42286-dairy-outlook-bullish-through-2022.md) | +0.0% | +8.4% |
| CORN | 2026-08-31 | [Crop prices record biggest monthly gain since 2012 - TT](https://feedsoft.ai/events/17948-crop-prices-record-biggest-monthly-gain-since-2012-tt.md) | -0.3% | +2.6% |
| CORN | 2024-10-02 | [Urea prices in the US experience price rally amid Middle East confrontations](https://feedsoft.ai/events/5243-urea-prices-in-the-us-experience-price-rally-amid-middle-east-confrontations.md) | -1.1% | -2.6% |
| CORN | 2023-06-02 | [Ukraine has 'plan B' to continue exports if grain deal collapses, minister says \| Reuters](https://feedsoft.ai/events/14385-ukraine-has-plan-b-to-continue-exports-if-grain-deal-collapses-minister-says.md) | -1.5% | -3.9% |
| CORN | 2022-10-31 | [Wheat futures jump, hitting record high in Sydney, after Russia exits Black Sea deal - Grain Price News](https://feedsoft.ai/events/39157-wheat-futures-jump-hitting-record-high-in-sydney-after-russia-exits-black-sea.md) | -2.2% | -3.8% |
| CORN | 2026-03-02 | [Iran conflict drives up urea prices \| The Western Producer](https://feedsoft.ai/events/4432-iran-conflict-drives-up-urea-prices-the-western-producer.md) | +2.0% | +5.1% |

## Sources

- nzherald.co.nz: https://www.nzherald.co.nz/business/markets/dairy-price-rally-continues-gdt-index-up-51pc-to-record/HSUT5OZAAS7MFSOZCZBVJSHHYM/

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