GDT average up 1.7%

Tuesday GDT Auction produced on all products average up 1.7% to average US $3481 tonne for the 37,968 tonnes sold to 134 buyers. The GDT price rises are predicted to continue until into 2020 due to increasing global demand out pacing milk supply which is flat lining and static. On the back of the recent GDT results New Zealand milk price forecasts are expected to rise again.

Notable price movements were:

SMP       + 3.3% to average $3,017
Cheddar  + 2.5% to average $3,701
WMP      + 2.2% to average $3,321
Butter     -  1.3% to average $4,061