Dairy product prices eked out again at the Global Dairy Trade auction, rising for the third time in the past ten auctions, as a decline in whole milk powder limited gains.
The GDT price index rose 0.2 per cent from the previous auction two weeks ago. The average price was US$3,306 a tonne, compared with US$3,303 a tonne two weeks ago. Some 38,716 tonnes of product was sold, down from 37,345 tonnes two weeks ago.
Whole milk powder slipped 0.2 per cent to US$3,141 a tonne.
"Softer prices were likely linked to a lift in volumes sold at this event, compared with the previous event with less volumes being sold into North Asia," NZX dairy analyst Robert Gibson said in a note.
At the latest GDT auction, buttermilk powder jumped 6.7 per cent to US$2,670 a tonne.