Global dairy prices fall at latest auction

(Image: Getty)

Wed, 19 Jul 2023

The Global Dairy Trade (GDT) index has hit a near three-year low as prices headed south yet again at the latest auction overnight.It declined 1% to 959 – the lowest since September 2020 when the index hit 947.The average price at Wednesday’s fortnightly auction was US$3,289 (NZ$5,241) per metric ton (MT), with just under 26,000MT sold.In total, 148 bidders participated in the auction, with 118 winning bidders across 14 rounds of bidding.It’s the third auction of the new dairy season, with prices dipping at each one. The index...

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