The GDT price index was down 1.2% at last night’s event. This was largely driven by a decline in prices for whole milk powder (WMP) and milkfats.
WMP average prices eased to US$3180/t, with the price index down 2.1%.
Although offer volumes leading into the event were unchanged on the previous event prices likely reflect buyers having adequate short term cover, with milk supplies coming online in the Northern Hemisphere, NZX dairy analyst Robert Gibson said in a note.
SMP average prices lifted slightly on the previous event to US$2529/t, with the price index up 0.5%.
Milk fat average prices decreased. Anhydrous milkfat (AMF) average prices decreased to US$6140/t, with the price index down 1.4%. Meanwhile, butter average prices decreased to US$5297/t, with the price index down 3.2%.
