GDT Auction results down 2.6% as New Zealand Production increases
Posted on: 09/08/19
Tuesday GDT Auction saw the average price fall by 2.6% to US$3253 tonne with volumes on offer up almost 40% to those on the previous auction. Quantity sold 34,969 tonnes.
The fall in price is predominantly attributed to the fact New Zealand is heading towards its spring peak and the US/China trade war. Note China is GDt’s longest monthly buyer. Next sale 20th August.
All product prices declined and notable movements were
Butter down 5.5% to average $4165 tonne.
Cheddar down 2.0% to average $3838 tonne.
WMP down 1.7% to average $3039 tonne.
SMP down 1.6% to average $2482 tonne.