The Country
  • The Country home
  • Latest news
  • Audio & podcasts
  • Opinion
  • Dairy farming
  • Sheep & beef farming
  • Rural business
  • Rural technology
  • Rural life
  • Listen on iHeart radio

Subscriptions

  • Herald Premium
  • Viva Premium
  • The Listener
  • BusinessDesk

Sections

  • Latest news
  • Coast & Country News
  • Opinion
  • Dairy farming
  • Sheep & beef farming
  • Horticulture
  • Animal health
  • Rural business
  • Rural technology
  • Rural life

Media

  • Podcasts
  • Video

Weather

  • Kaitaia
  • Whāngarei
  • Dargaville
  • Auckland
  • Thames
  • Tauranga
  • Hamilton
  • Whakatāne
  • Rotorua
  • Tokoroa
  • Te Kuiti
  • Taumurunui
  • Taupō
  • Gisborne
  • New Plymouth
  • Napier
  • Hastings
  • Dannevirke
  • Whanganui
  • Palmerston North
  • Levin
  • Paraparaumu
  • Masterton
  • Wellington
  • Motueka
  • Nelson
  • Blenheim
  • Westport
  • Reefton
  • Kaikōura
  • Greymouth
  • Hokitika
  • Christchurch
  • Ashburton
  • Timaru
  • Wānaka
  • Oamaru
  • Queenstown
  • Dunedin
  • Gore
  • Invercargill

NZME Network

  • Advertise with NZME
  • OneRoof
  • Driven Car Guide
  • BusinessDesk
  • Newstalk ZB
  • Sunlive
  • ZM
  • The Hits
  • Coast
  • Radio Hauraki
  • The Alternative Commentary Collective
  • Gold
  • Flava
  • iHeart Radio
  • Hokonui
  • Radio Wanaka
  • iHeartCountry New Zealand
  • Restaurant Hub
  • NZME Events

SubscribeSign In

Advertisement
Advertise with NZME.
Home / The Country

Dairy prices fall at latest GDT auction

By Margreet Dietz
BusinessDesk·
4 Sep, 2018 10:54 PM2 mins to read

Subscribe to listen

Access to Herald Premium articles require a Premium subscription. Subscribe now to listen.
Already a subscriber?  Sign in here

Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech.
‌
Save

    Share this article

Photo / File

Photo / File

Dairy product prices fell at the Global Dairy Trade auction, led by unexpected slides in whole milk powder and butter.

The GDT price index slipped 0.7 percent from the previous auction two weeks ago. The average price was US$2,980 a tonne, compared with US$3,044 a tonne two weeks ago.

Some
38,811 tonnes of product was sold, up from 32,041 tonnes two weeks ago.
Whole milk powder fell 2.2 percent to US$2,821 a tonne.

"There was a greater volume of whole milk powder sold at this event," AgriHQ dairy analyst Amy Castleton said in a note, adding that it marked a 33 percent increase from the August 21 event and 29 percent climb from the year-earlier event on September 5, 2017.

Read more: Fonterra's Mark Robinson on a 'disappointing' GDT result

At the latest GDT auction, butter dropped 2.8 percent to US$4,271 a tonne.

Advertisement
Advertise with NZME.
Advertisement
Advertise with NZME.

"Butter prices again saw the largest fall," according to Castleton. "Oceania butter prices are currently the lowest globally, so the market had been anticipating that they would find some support."

Lactose slipped 0.5 percent to US$917 a tonne.

Meanwhile, butter milk powder rose 0.1 percent to US$2,474 a tonne, while anhydrous milk fat rose 0.2 percent to US$5,316 a tonne.

Advertisement
Advertise with NZME.

Skim milk powder rose 2.2 percent to US$2,005 a tonne, while rennet casein rose 3.7 percent to US$5,326 a tonne, and cheddar climbed 4.2 percent to US$3,631 a tonne.

For sweet whey powder, neither an index nor price was available.

The New Zealand dollar last traded at 65.53 US cents as of 2.54pm in New York, compared with 66.01 US cents at the previous close in Wellington.

There were 126 winning bidders out of 178 participating at the 19-round auction. The number of registered bidders was 541, up from 534 at the previous auction.

Discover more

Business

A2 Milk doubles profit in 2018

21 Aug 08:24 PM
Business

Fonterra set to lower 2018/19 milk price forecast

29 Aug 10:18 PM

NZ's terms of trade lifts

03 Sep 08:00 PM

Emissions recommendations 'would penalise farmers'

04 Sep 04:15 AM

"There were the same number of winning bidders at this event as at the previous event, though the auction did stretch out to 2 hours and 43 minutes," Castleton noted, adding that the previous event took one hour and 57 minutes. "There was likely some increased competition for some commodities."

Save

    Share this article

Latest from The Country

The Country

'I feel aggrieved': 92-year-old online shopper's warning after supermarket meat purchase

The Country
|Updated

Rural community 'in shock' as industrial park greenlit

The Country

Beekeeper advocacy group comes under pressure


Sponsored

Solar bat monitors uncover secrets of Auckland’s night sky

Advertisement
Advertise with NZME.

Latest from The Country

'I feel aggrieved': 92-year-old online shopper's warning after supermarket meat purchase
The Country

'I feel aggrieved': 92-year-old online shopper's warning after supermarket meat purchase

A butcher says just 65% of the meat Godfrey Rodgers received would be edible if cooked.

16 Jul 06:00 PM
Rural community 'in shock' as industrial park greenlit
The Country
|Updated

Rural community 'in shock' as industrial park greenlit

16 Jul 06:00 PM
Beekeeper advocacy group comes under pressure
The Country

Beekeeper advocacy group comes under pressure

16 Jul 03:00 AM


Solar bat monitors uncover secrets of Auckland’s night sky
Sponsored

Solar bat monitors uncover secrets of Auckland’s night sky

06 Jul 09:47 PM
NZ Herald
  • About NZ Herald
  • Meet the journalists
  • Newsletters
  • Classifieds
  • Help & support
  • Contact us
  • House rules
  • Privacy Policy
  • Terms of use
  • Competition terms & conditions
  • Our use of AI
Subscriber Services
  • NZ Herald e-editions
  • Daily puzzles & quizzes
  • Manage your digital subscription
  • Manage your print subscription
  • Subscribe to the NZ Herald newspaper
  • Subscribe to Herald Premium
  • Gift a subscription
  • Subscriber FAQs
  • Subscription terms & conditions
  • Promotions and subscriber benefits
NZME Network
  • The New Zealand Herald
  • The Northland Age
  • The Northern Advocate
  • Waikato Herald
  • Bay of Plenty Times
  • Rotorua Daily Post
  • Hawke's Bay Today
  • Whanganui Chronicle
  • Viva
  • NZ Listener
  • Newstalk ZB
  • BusinessDesk
  • OneRoof
  • Driven Car Guide
  • iHeart Radio
  • Restaurant Hub
NZME
  • About NZME
  • NZME careers
  • Advertise with NZME
  • Digital self-service advertising
  • Book your classified ad
  • Photo sales
  • NZME Events
  • © Copyright 2025 NZME Publishing Limited
TOP