More available product likely driver for overall decrease in GDT

Published 16 April 15

The latest Global Dairy Trade (GDT) auction fell 3.6% to a weighted average of $2,620/tonne. Following the likely rebalancing in the previous two auctions, the most recent fall could be down to the increase in supply offered by Fonterra. The New Zealand dairy cooperative increased the amount of WMP (up 9.6%), SMP (up 9.7%) and butter (up 9.3%) it offered to the auction.

GDT graph 16.04.15