GDT price index falls 2.4%

Published 4 October 17

The Global Dairy Trade (GDT) price index fell by 2.4% in the 3 October event, the largest change in either direction since May 2017. Price indexes for WMP and SMP, which together make up around three quarters of product sold, were down 2.7% and 1.4% respectively. Of the key products, only cheddar had an increase in price index, up 1.9%.

2017.10.05 GDT

This decline in price index comes as New Zealand starts to enter its flush. Delays to calvings, caused by wet weather last season, weighed on production in August, but improving farmgate prices have led Rabobank to forecast production growth of 2.5-3.5% for the 2017/18 season.