GDT price index down 3.5%

Published 8 November 17

The Global Dairy Trade (GDT) price index fell by 3.5% at the 7 November event. This is not too surprising as New Zealand are currently in their peak production period, improving product availability. Although September production was behind 2016, improved weather means there is some expectation that October production will be on par with last year.

The overall drop in the price index was primarily driven by WMP, which had a price index decrease of -5.5%, and accounted for over half of product sold. The cheddar and butter price indexes also decreased by 2.8% and 3.6% respectively. SMP, which made up nearly a quarter of product sold, bucked the trend with a price index increase of 1.2%. However, this was on the back of a 5.6% price index decline at the previous event.

2017.11.09 GDT