International milk prices rose while volumes dropped at GDT
The GDT Price Index was up 4.6%, with an average selling price of $2,957 per metric ton. The index rose 2.7% at the previous auction held on Sept. 5, with an average selling price of $2,888, according to GDT Events. A total of 37,366 tons of dairy products were sold at the latest auction, down…
Global Dairy Trade Event concluded with the Price Index up 2.7%
Dairy prices have risen in the Global Dairy Trade auction for the first time in four months. The average price increased 2.7 percent to US$2888 per tonne after hitting a near five-year low at the last auction in August. The all-important whole milk powder price – which affects the payout for local farmers – rose 5.3 percent to US$2702…
Global dairy price index crashed by 7.4%
Dairy prices crashed to their lowest levels in nearly five years at the Global Dairy Trade auction overnight, led by a 10.9 percent fall in the price of whole milk powder. The average price fell 7.4 percent to US$2875 (NZD$4830) a tonne. The price of whole milk powder, which strongly affects the payout for local…
Fonterra slashes milk price forecast as demand slumps
Fonterra has slashed its forecast milk price for the 2023/24 season by $1 as demand slumps. On Friday the co-operative announced a revised farmgate milk price range of $6.25 to $7.25 per kilogram of milk solids, with a mid-point of $7 per kgMS. In May Fonterra said it expected to pay farmers between $7.25 and $8.75…
Dairy prices fall as volumes rise at auction- GDT events
International milk prices fell while volumes were up at this month’s first Global Dairy Trade (GDT) auction on Tuesday. The GDT Price Index was down 4.3%, with an average selling price of $3,100 per metric ton. The index fell 1% at the previous auction on July 18, with an average selling price of $3,289, according…
Dairy prices fall as volumes rise at auction- GDT events
International milk prices fell while volumes were up at this month’s first Global Dairy Trade (GDT) auction on Tuesday. The GDT Price Index was down 4.3%, with an average selling price of $3,100 per metric ton. The index fell 1% at the previous auction on July 18, with an average selling price of $3,289, according…
Arguing against free markets is actually disbelieving freedom itself
I have been hearing the seminal quote by Mahatma Gandhi in Indian context that “Mass Production is production by masses” since I started my career in the dairy industry. It’s almost four decades and even today I find most of the policies are oriented towards protecting the farmers. I am unable to decipher at times…
GDT price index down over 3% and butter crashed by over 10%
The Global Dairy Trade (GDT) price index has dropped by 3.3% following the latest trading event held earlier today (Tuesday, July 4). The price index now stands at 969, a level last seen in November 2020. Following the previous auction on June 20, the index remained unchanged from the preceding event on June 6, at…
Dairy prices unchanged, volumes drop at auction – GDT events
International milk prices were unchanged while volumes fell on Tuesday in the second Global Dairy Trade (GDT) auction of the month. The GDT Price Index remained flat, with an average selling price of $3,479 per tonne. The index fell 0.9% at the previous auction held on June 6, with an average selling price of $3,399,…
China’s continued absence from dairy market weighs on milk prices
China’s continued absence from the dairy market is continuing to undermine a recovery in milk prices. Despite this, both IFA and ICMSA have warned milk processors that farmers cannot afford any further cuts to milk price and believe the market has recovered. It comes as Ornua said its returns declined again in May based of…