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The Global Dairy Trade price index fell 3.9% at the first November auction, with an average selling price of $3,537 per tonne. Volumes sold dropped about 1.8% from the previous auction.
A third consecutive GDT decline signals weaker global dairy demand and lower export prices for milk powders. The result also bears on the New Zealand dollar, given the dairy sector's large share of the economy.
thedairysite.comMelanie EppNov 2, 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.
The 3.9% fall in the GDT index at the Nov 2 auction signaled weak global demand and lower export price benchmarks, weighing on US dairy futures sentiment.
