GDT Price fall attributed to Coronavirus in China
Posted on: 07/02/20
This week’s GDT Auction fell back sharply by 4.7% to average US$3226 tonne.
The fall in price was put down to the impact of the quickly developing Coronavirus in China with Dairy trade disrupted and slowing down.
WMP prices took a 6.2% battering however some New Zealand analysts had feared the drop in price could have been 10% or more. The best outcome for the world and dairy prices is for the virus to be quickly contained.
Key Price moves were
- WMP down 6.2% to average US $ 3039 tonne
- SMP down 4.2% to average US $ 2907 tonne
- Cheddar up 6.0% to average US $ 4302 tonne