Dairy prices look to have peaked

Fall in overnight GDT auction took market by surprise. (Image: Getty)

Wed, 04 May 2022

Dairy prices tumbled 8.5% in the overnight Global Dairy Trade (GDT) auction and analysts say they likely peaked in March. It was the fourth consecutive fall in the GDT index and the biggest fall in nearly seven years.Whole milk powder prices were down 6.5% overall to US$3,916 (NZ$6,075) a tonne, the first time they have dipped below US$4,000 since January. WMP prices hit US$4,757/t on March 1. Other data also pointed to a downtrend. The ANZ NZ Commodity Price Index eased 1.9% in April, weighed by a 4% fall in dairy prices....

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