Global Dairy Trade Auction Sees Its Highest Increase Since April 2013

Published 2022년 3월 2일

At the latest GDT auction, the average prices went up 5.1% to $5,065. The index has seen a steady increase since January but that registered on Tuesday is record-beating, outshining all auction results since 13th April 2013. Cheddar was the biggest winner of all products offered edging up (+10.9) percent to $6,394.

At the latest GDT auction event 303 on Tuesday the 1st of March, the average prices went up 5.1% to $5,065. The index has seen a steady increase since January but that registered on Tuesday is record-beating, outshining all auction results since 13th April 2013.

There were 25,208 mt of quantity sold with 176 participating bidders. Cheddar was the biggest winner of all products offered edging up (+10.9) percent to $6,394 while butter milk powder (BMP) followed with (+5.8) percentage increase to $4,217.

Butter and whole milk powder (WMP) were neck in neck in their rally increasing by (+5.9) and (+5.7) percent respectively. Butter came to $7,086 while whole milk powder (WMP) ended at $4,757. Also finishing the auction at $4,481 was skim milk powder (SMP), up (+4.7) percent.

Anhydrous milk fat (AMF) came to $7,048 up (+2.1) percent while Lactose, albeit marginally, also rose (+0.9) percent to $1,634. Sweet whey powder wasn’t offered at the event.

Days before the auction activities and sentiments within the New Zealand dairy industry recently suggested the prices index may go up. Fonterra took out 10,000 mt of whole milk powder (WMP) and 500 mt of skim milk powder (SMP) from their 12-month forecast. They also announced a strategic partnership between New Zealand’s Exchange (NZX) NZX Limited and the European Energy Exchange AG (EEX) taking ownership stakes in the Global Dairy Trade (GDT) alongside the Co-op. In addition, Fonterra lifted its 2021-22 forecast farm-gate milk price range to NZ$9.30 - $9.90 per kgMS, up from NZ$8.90 - $9.50 per kgMS.