# GDT recovery now pushed out to next year

> Skim milk powder fell 5.2% and the butter index dropped 3% at the latest GDT auction, the third sizeable drop in a month. Westpac cut its farmgate milk price forecast by 50 cents to $8.75/kg milksolids and expects weak demand to persist into the new year.

- Date: 2022-11-03 · published 2022-11-03T12:00:00.000Z
- Category: market · region Global · magnitude medium
- Page: https://feedsoft.ai/events/8817-gdt-recovery-now-pushed-out-to-next-year
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Weakening global dairy demand and a lower farmgate price outlook reduce the value of milk and dairy inputs. Forecasts now show a slower recovery, keeping downward pressure on dairy prices.

## Read by commodity

- MILK: bearish ▼

## Sources

- farmersweekly.co.nz: https://www.farmersweekly.co.nz/markets/gdt-recovery-now-pushed-out-to-next-year/

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