GDT index almost flat, dropping just 0.1%

(Image: Unsplash)

Wed, 18 Jan 2023

Dairy prices remained fairly stable at the second Global Dairy Trade (GDT) auction of the year, declining just 0.1%.The result at the latest auction came after a 2.8% decline at the first event of the year a fortnight ago.At last night’s auction, the GDT Price Index fell just 0.1% to US$3,393 (NZ$5,280) per metric tonne (MT).However, whole milk powder, which had the biggest influence on Fonterra’s farmgate milk price, increased by 0.1% to US$3,218/MT.Meanwhile, skim milk powder, which was Fonterra’s second reference, decreased...

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