GDT Auction is a stand on but still high

Todays GDT Auction was more or less a stand on price with the average all products price down 0.1% to average US $4110 tonne.

The surge in global dairy prices has resulted in an equal surge in farmer confidence with Rabobank stating that dairy farmer sentiment is at its highest level in more than 3 years.

Notable price changes were:

Cheddar               up 1.29%             to average $4436 tonne

WMP                     up 0.49%             to average $4097 tonne

SMP                       No change           to average $3365 tonne

Butter                   down 0.6%          to average $5736 tonne