Whole milk powder prices plunge in dairy auction

(Image: Getty)

Wed, 02 Aug 2023

Global dairy prices fell sharply overnight, which doesn’t bode well for this season’s forecast milk price payout.The Global Dairy Trade (GDT) index fell 4.3% versus the prior auction two weeks ago.The GDT price index is calculated from the total quantity sold in a trade event across all products, contract periods and sellers.The index currently stands at 918, which is the lowest it has been since September 2020.'A large fall'Whole milk powder, which has the biggest influence on Fonterra’s milk price, plunged 8.0% to US...

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