Dairy prices rise for third time in a row at New Zealand's GDT auction
At the Global Dairy Trade (GDT) auction on 3 November, the dairy price index rose by 3.0%. Cheddar cheese gained the most, while butter became cheaper.
The dairy price index rose by 3.0% at the 3 November auction on the New Zealand-based Global Dairy Trade (GDT) platform. It was the third consecutive November auction to end with higher prices. The result matters to dairy processors and livestock farmers, as GDT prices are often used as a reference point in the global dairy market.
The average winning price was USD 4,166 per metric tonne, higher than at the previous auction. The event comprised 18 bidding rounds with 166 bidders taking part.
Price changes by product
Cheddar cheese rose the most, by 8.6%. Other categories that gained:
- whole milk powder: +5.9%;
- mozzarella: +5.8%;
- lactose: +3.3%;
- skim milk powder: +3.1%.
Prices fell for several other products:
- butter: −4.7%, the largest drop;
- buttermilk powder: −4.4%;
- anhydrous milk fat: −3.2%.
Sales volume
A total of 39,806 tonnes of dairy products were sold. That is more than 2,000 tonnes less than at the previous auction, even though prices increased in many categories.
