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GDT price index falls 5.2%- Event 112, 18 March 2014

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Dairy product prices fell 5.2% in the second GDT auction in March this year. The fall was led by double digit falls in anhydrous milkfat (AMF) and rennet casein, followed by whole milk powder (WMP), butter and cheese. The average winning price was US$4563/tonne, down from US$4794/tonne in the last sale.
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The whole milk powder index fell 5.8%. WMP sold at an average price of US$4439/tonne across all sellers and delivery periods. Fonterra regular WMP for May delivery traded at US$4365/tonne. 

The anhydrous milk fat index fell 10.7%, and sold at an average price of US$4578/tonne across all sellers and delivery periods. Contract 2 regular AMF prices, which the NZX Futures settles against, sold at US$4530/tonne, down from US$5030/tonne last auction.

The skim milk powder index dipped by 1.7%. SMP sold at an average price of US$4584/tonne across all sellers and delivery periods. Fonterra medium heat SMP contract 2 decreased in price to US$4790/tonne. DairyAmerica and Euroserum medium heat SMP contract 2 sold at slightly lower prices, at US$4440/tonne and US$4445/tonne respectively.

Click here to download the price report

Click here to view the full GDT results

Source: GDT

 

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