Wednesday, 19 October 2016 18:39

Dairy prices rebound

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Global dairy prices have risen in the latest Global Dairy Trade (GDT) auction overnight.

The flagship whole milk powder price index was up 2.9%, to US$2760/tonne.

The GDT price index rose 1.4% at the latest auction, following a 3% cent dip in the previous auction- which ended a run of price increases. WMP prices had dipped 3.8% in the previous auction.

The latest price rise could be attributed to supply concerns out of New Zealand; prolonged wet weather in the North Island is affecting milk production.

Key results

Ched index down 3.7%, average price US$3,290/MT

LAC index up 5.6%, average price US$780/MT

RenCas index down 4.5%, average price US$6,286/MT

SMP index down 0.3%, average price US$2,204/MT

WMP index up 2.9%, average price US$2,760/MT

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