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The GDT price index rose 0.8% at the latest auction, the ninth straight rise, with an average price of US$3,483 a tonne. Whole milk powder fell 1.3%, while butter, rennet casein and other products gained.
Volumes sold were 17,854 tonnes, down from the prior event.
Continued gains in the GDT index point to firmer global dairy prices, though weaker whole milk powder demand in North Asia limits the upside. The signal is incremental for feed buyers.
farmersweekly.co.nzBusinessDeskApr 2, 2019Not 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.
The ninth straight GDT index rise on 2019-04-02 supports global dairy sentiment and price direction, though the gain was small and whole milk powder fell.
A ninth straight GDT index gain (+0.8%), with butter and casein up, signals firm global dairy demand and supports Class III sentiment, though the move is small relative to a 4.9% jump.
