Whopping 4.3% increase in only 2 weeks for the GDT Auction

Its now five rises in the past 6 auctions and this time it’s a whopping 4.3% increase for the big hitting tonnage on offer of almost 30,000 tonnes actually sold (29,915). This represents an additional 2079 tonne increase equating to a 7.5% uplift in two weeks.

 

All bar one product on offer increased in value as the market continues to head North with limited signs of the auction having reached its peak.

Notable movements since 19^th October Auction

                Cheddar   + 14.1% to average US $5058 tonne

                SMP          + 6.6% to average US $3627 tonne

                Butter       + 4.7% to average US $5350 tonne

                WMP        + 2.7% to average US $3921 tonne

 

Overall index average was up + 4.3% to US $4207 tonne.

 

If this trend continues the current UK equivalent anticipated farmgate milk price paid to Fonterra’s farmers, currently at 33ppl, could be bumped up again and very soon ensuring its farmers benefit from the boom. Meanwhile domestically UK farmers battle to make the numbers stack up.