Archive: Latest GDT auction poses some potential signs of relief

Published 15 October 14

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As reported widely in the industry, high global milk production and lack of buyer interest has been placing downward pressure on prices. However, the Wednesday 15 October GDT (GlobalDairyTrade) auction, increased 1.4% on average, suggesting some potential signs of relief. Butter and WMP were up 3.9% and 3.1% respectively while SMP fell 3.6%. Although this is positive news for the industry, more than one auction result is needed to provide a clear sign that the recent downward trend may be reversing in the coming months.