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GDT the results | Event 159 March 1, 2016

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The GlobalDairyTrade auction overnight saw its first positive swing for the year with the GDT Price Index lifting 1.4% with an average price for the auction of US$2253/t up US$17 from the previous auction, but results for the different commodities were mixed.
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The auction duration was also the longest for an event this year at 2 hours and 11 minutes over 14 rounds. Participating bidders were up on the previous event, 160 versus 151 as were the number of winning bidders, 122 versus 115.

Slightly less product was sold compared to the previous event, 21,880t versus 22,021t. 

The direction of the results was mixed for the individual commodities. Rennet casein saw the biggest upswing of 14.9% with an average price of US$4569/t followed by lactose lifting 7.9% with an average price of US$613/t.

New Zealand's two most key export products also saw their first lift for the year. Whole milk powder gained 5.5% with and average price of US$1974/t and skimmed milk powder gained 1.3% to an average price of US$1802/t.

The largest fall to in index was seen by anhydrous milk fat, dropping 8.3% to an average price of US$3254/t. Butter milk powder dropped 2.9% with an average price of US$1452/t, cheddar fell 0.7% with an average price of US$2528/t and butter fell a slight 0.5% with an average price of US$2811/t.

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