GDT Average down 2.9% as Coronavirus cases increase

Last Tuesdays GDT Auction average fell for a second consecutive auction this time by 2.9% to average US $3176 tonne the lowest average price since January 2019. The results follow hot on the heels of a 4.7% fall only two weeks ago and this measn WMP has seen more than 8% wiped off its value in less than a month.

The escalating confirmed cases of Coronavirus are the key reason for the falls (see next story).

Key Price moves were:

• Butter down 3.9% to average $4090 tonne
• WMP down 2.6% to average $2966 tonne
• SMP down 2.6% to average $2840 tonne
• Cheddar up 5.3% to average $4526 tonne