Dairy prices ‘nosedive’ at latest GDT auction

Dairy prices ‘nosedive’ at latest GDT auction
(Image: Fonterra)
Riley Kennedy
Global dairy prices have seen their biggest fall in nearly a year.The Global Dairy Trade (GDT) price index fell 6.9% to an average price of US$3,782 a metric tonne (NZ$5,672/MT) at the latest auction overnight.It’s the largest drop since August last year and comes after 0.5% decline two weeks ago.Across the auction, all products except lactose, saw a decrease.Whole milk powder, which has the biggest influence on Fonterra’s milk price and makes up half of the auction by volume, fell 4.3% to US$3,218/MT.Skim milk powder, the dair...

More Primary Sector

Job cuts on the table at embattled BX Foods
Primary Sector

Job cuts on the table at embattled BX Foods

The meat processor operates a plant in Oamaru.

Riley Kennedy 25 Jul 2024
NZ raises its concerns with EU over deforestation regulation
Primary Sector

NZ raises its concerns with EU over deforestation regulation

The regulation is tipped to pose “quite significant burdens”.

Riley Kennedy 25 Jul 2024
Foresta parts ways with managing director Ray Mountfort
Primary Sector

Foresta parts ways with managing director Ray Mountfort

The company assured shareholders plans for a biomass plant in Kawerau are on track.

Greg Hurrell 25 Jul 2024