GDT average up 4.9% as Chinese demand was eclipsed by South East Asia for the first time

Tuesdays GDT saw the first real increase in prices in the past 13 auctions since prices topped out back in March of this year.

According to Fonterra their biggest GDT customer is always China however for the first time the largest tonnage went to South East Asia.

 

Note for comparative purposes all figures in brackets are for the previous auction on the 16th august.

The tonnage sold was 27,217 (30,326) participating bidders 174 (162) winning bidders 112 (121)

Average price US $ 4007 ($3768)

 

Notable movements were:   

WMP UP 5.1% to average price US$3,610 tonne 

                                                Butter up 3.3% to average  price US$5,369 tonne 

                                                SMP up 1.5% to average  price US$3,575 tonne 

                                                Cheddar up 1% to average  price US$5,046 tonne