# Dairy prices, volumes fall at auction - GDT events
						 | The Dairy Site

> 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.

- Date: 2022-11-02 · published 2022-11-02T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/8816-dairy-prices-volumes-fall-at-auction-gdt-events-the-dairy-site
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

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.

## Read by commodity

- MILK: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| MILK | 2022-11-02 | 1 | -5.2% | -3.7 | 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. |

## Sources

- thedairysite.com: https://www.thedairysite.com/news/dairy-prices-volumes-fall-at-auction-gdt-events-2

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