Latest GDT up 13%

Published 17 August 16

The latest Global Dairy Trade auction (GDT) Price Index increased 12.7%, on 16 Aug compared to 2 Aug. WMP, which accounted for nearly half of the 37,766 tonnes sold, rose 18.9% on the back of Fonterra forecasting lower available stock for auction trade over the coming 12 months.

While this auction’s total quantity offered was up 9% on the same time last year, volumes have generally been lower, with August as a whole down 12% compared to 2015.

Although the auction is largely focused around WMP, it is another indication on the direction commodity prices are taking and the improved market signals that are being given off.