Global dairy prices break four-auction gain streak

(Image: Fonterra)

Wed, 08 Nov 2023

Dairy prices have broken their recent gain streak, with the Global Dairy Trade price index dipping 0.7% overnight.The decline breaks a four-gain streak at the fortnightly auction, with the Global Dairy Trade (GDT) index dropping for the first time since Aug 15, when it fell 7.4%.The recent gains had seen sentiment around dairy prices improve, and Fonterra increased its forecast price early last month on the somewhat improved outlook.Although the index’s drop was less than one 1% to an average price of US$3,255 (NZ$5,479) per metric tonne...

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