GDT Auction falls for the third consecutive time
Posted on: 22/04/22
The average Auction price has fallen for the third consecutive time and its starting to look like it could be the start of a decline. However, two factors played their part in this weeks fall including 3% more product available coupled with the lockdown at Shanghai container port. Fundamentally underlying global demand for dairy product is excellent and cannot be overtaken by global milk output.
Average prices at this week’s auction were down 3.6% to average US $4885 tonne with WMP down 4.4% to average US$4207 tonne.