Dairy product prices climbed at the Global Dairy Trade auction, advancing for the sixth time in seven auctions, bolstered by a jump in whole milk powder amid lower supply. The GDT price index jumped 11.4% to $US3327, up from $US2965 at the previous auction two weeks ago. Some 27735 tonnes of product was sold, down from 31,525 tonnes at the previous auction. At the latest GDT auction, skim milk powder rallied 6.5 % to $US2,329 a tonne, while butter gained 4 % to $US4,146 a tonne. The number of qualified bidders dropped to 510, down from 620 at the previous auction.

Source: Otago Daily Times November 01, 2016 18:47 UTC