Global dairy prices decrease for fourth time in row


Global dairy prices decrease for fourth time in row.

Global dairy prices decrease for fourth time in row

  • ADDED
  • 22 days ago

Global dairy prices decrease for fourth time in row.

Global dairy prices hit an eight-month low on Wednesday, Reuters reported.

Prices fell for the fourth consecutive auction ( GDT Events) and analysts have said that this could potentially lead to lower farmgate milk payment.

The GDT Price Index decreased by 3.4% from the previous event, with an average selling price of $2,970 (approx. €2523) per tonne. Prices increased in the second quarter on strong global demand and as production eased. Supply has since increased.

"Buyers are unlikely to feel much urgency to buy product right now with the prospect of more milk being available from NZ," said Amy Castleton, Feilding-based analyst at AgriHQ told Reuters.

Slashing prices

Fonterra said that their output of domestic milk increased by 3% in October in comparison to figures from the same time period last year.

Analysts have said that the dairy giant could slash their prices before the end of the year.

The price of whole milk powder fell by 2.7% in the auction, while skim milk powder decreased by 6.5%.

GDT events said that 160 bidders purchased 35,042 MT at the auction.

Similar Articles

Comments


The Marts Forecast
The Marts Forecast
Click to View Weekly Mart Schedules
SELECT LIVESTOCK

Cattle Marts Scheduled Nationwide

Monday

  • Birr
  • Carrigallen
  • Granard
  • Elphin
  • Inishowen
  • Manorhamilton
  • Stranolar
  • Tuam

Tuesday

  • Ballina
  • Ballyjamesduff
  • Drumshambo
  • Ennis
  • Enniscorthy
  • Fermoy
  • Nenagh

Wednesday

  • Athenry
  • Ballinrobe
  • Elphin
  • Granard
  • Kilrush
  • Nenagh

Thursday

  • Ballymote
  • Birr
  • Castlerea
  • Drumshambo
  • Ennis
  • Kilkenny
  • Raphoe

Friday

  • Donegal
  • Gort
  • Kilfenora
  • Roscommon
  • Roscrea
  • Tullow

Saturday

  • Balla
  • Carnew
  • Carrigallen
  • Dowra
  • Loughrea
  • Maam Cross
  • Mohill
  • New Ross
  • Scariff
  • Tullow

Sheep Marts Scheduled Nationwide

Monday

  • Ballyjamesduff
  • Carrigallen
  • Elphin
  • Fermoy
  • Kilkenny
  • Raphoe

Tuesday

  • Athenry
  • Ballina
  • Donegal
  • Ennis
  • Inishowen
  • Tuam
  • Tullow

Wednesday

  • Ballinrobe
  • Enniscorthy
  • Gort
  • Manorhamilton
  • Roscommon
  • Roscrea
  • Stranorlar

Thursday

  • Ballymote
  • Carnew
  • Loughrea

Friday

  • Dowra

Saturday

  • New Ross
  • Maam Cross

Dairy Marts Scheduled Nationwide

Monday

  • Kilkenny

Tuesday

Wednesday

  • Enniscorthy (2nd Wednesday Of Month)

Thursday

Friday

  • Fermoy

Saturday

Calf Marts Scheduled Nationwide

Monday

Tuesday

  • Kilkenny

Wednesday

  • Enniscorthy

Thursday

Friday

Saturday