GDT dairy commodity auction sees second rise in a row
© Tim Scrivener Milk commodity prices rose slightly in the latest Fonterra Global Dairy Trade (GDT) online auction on Tuesday (15 December).
After signs of slowing New Zealand milk production, this was the second limited rise in a row, with the index up 1.9% compared with two weeks earlier when it rose 3.6%.
Butter and lactose saw the biggest increases, although volume overall was low, with less than 26,000 tonnes on offer and 24,888 tonnes of produce bought by 112 bidders.
This compares with 34,720 tonnes at the corresponding sale in 2014.
See also: How focus on productivity put NZ livestock farmers ahead
| GDT auction 15 December 2015 – results | ||
| Butter | weighted average selling price US $3,136/t (£/2,090t) | index up 9% |
| Cheddar | weighted average selling price US $2,856/t (£/1,904t) | index up 1.1% |
| Anhydrous milk fat | weighted average selling price US $3,721/t (£2,480/t) | index up 6.1% |
| Butter milk powder | weighted average selling price US $1,564/t (£1,042/t) | index down 6.1% |
| Skim milk powder | weighted average selling price US $1,891/t (£1,260/t) | index up 0.2% |
| Whole milk powder | weighted average selling price US $2,304/t (£1,536/t) | index up 1.86% |
| Rennet casein | weighted average selling price US $4,541/t (£3,027/t) | index down 9.5% |
| Lactose | weighted average selling price US $542/t (£361/t) | index up 6.8% |
The Global Dairy Trade online auction is owned by New Zealand co-op Fonterra. It holds two online auctions each month, with dairies from Europe, India, the USA, New Zealand and Australia selling commodities to 650 buyers from more than 90 countries.