GDT Auction jumps up + 3.3%

Last weeks GDT Auction saw the average all products index increase by 3.3% to average $3309 tonne the highest seen for 9 months. The only casualty was SMP where prices dipped by 4.3% since the previous action only two weeks ago. This is the 7^th consecutive average price rise since December 4^th2018 and New Zealand analysts say that with the current strong ex farm milk output the increased prices are demand driven mainly from China. 

Notable price movements were:

Cheddar          up 6%              to average US $3888 tonne

WMP               up 6%              to average US $3186 tonne

Butter              up 3.7%           to average US $4657 tonne

SMP                down 4.3%      to average US $2462 tonne