- The Global Dairy Trade (GDT) saw its first decline in the last four auctions.
- A decrease in volumes sold was reported, which may affect the industry’s price outlook.
- The latest GDT auction results are a surprising mix of price changes.
Decline at GDT since the last four auctions
On November 7, international dairy prices fell at the first auction of the month held by Global Dairy Trade (GDT). The GDT price index declined by 0.7%, reaching an average selling price of $3,255 per metric ton. This is the first such decline since the last four auctions.
Moreover, a total of 34,514 metric tons of dairy products were sold in the last auction, down 4.1% compared to the results of the previous auction.
Surprising developments in the dairy market
However, it should be noted that despite the decline in the overall price index, some dairy products are gaining in value, such as lactose . This indicates the changing market forces in the global dairy market and encourages close analysis of trends in the coming months.
Dairy market analyst Cristina Alvarado at NZX pointed out that the latest GDT auction results were a surprising mix of price movements, with particular emphasis on the 2.3% increase in the price of skimmed milk powder and 3.1% increase in anhydrous milk fat , despite the fall in butter prices.
We will be monitoring the situation closely over the coming months. Visit our blog for the latest news and analysis from the dairy market and beyond.
