GDT up 4.9%

Tuesday’s GDT auction saw prices bounce up on average 4.9% clearly as a result of lower volumes put forward by Fonterra due to continuing drought conditions in New Zealand.  Total sold 23,319 tonnes down from 25,400 tonnes sold a fortnight ago.

Notable movers were:

Butter                                                   +           8.8% to average US$4897 tonne
SMP                                                     +           6.5% to average US$1818 tonne
Cheddar                                               +           5.2% to average US$3486 tonne
WMP                                                    +           5.1% to average US$3010 tonne