Dairy product prices rose at the Global Dairy Trade auction, gaining for the seventh time in eight auctions, amid supply decreases. The GDT price index increased 4.5% to US$3,519, up from US$3,327 at the previous auction two weeks ago. Some 23,902 tonnes of product was sold, down from 27,735 tonnes at the previous auction. At the latest GDT auction, butter milk powder jumped 13.3% to US$2,623 a tonne, while cheddar climbed 11% to US$3,697 a tonne. The number of qualified bidders held steady at 510, the same as at the previous auction.

Source: Otago Daily Times November 15, 2016 20:26 UTC