After five consecutive increases on the New Zealand Global Dairy Trade exchange, the trend slowed down, which can be treated as a recovery from a series of previous increases.
At the session on June 18 this year. There was a slight correction in the prices of dairy products on the Global Dairy Trade exchange. The value of the general price index at the last auction fell by 0.5 percent, after a previous series of five increases.
The decline in the value of the general price index resulted in the changes in quotations of the offered categories of dairy products being divided in half. Three categories saw growth, the largest of which occurred in the case of butter (+6.2%). There was also a decrease in three categories, the largest of which concerned whole milk powder (-2.5%). Two categories did not participate in the session (buttermilk powder and Mozarella).
Sales volume of dairy products in a downward trend
At the last GDT session, 16,787 tons of dairy products were sold, which was a result of almost 1,000 tons. ton lower compared to the previous auction. The results of the last GDT session are as follows:
- Anhydrous milk fat – decrease by 1.2%,
- Butter – an increase of 6.2%,
- Buttermilk powder – not offered,
- Cheddar cheese – decrease by 1.0%,
- Lactose – increase by 1.9%,
- Mozzarella – not offered,
- Skimmed milk powder – increase by 0.7%,
- Whole milk powder – 2.5% decrease.
Although the last session on the GDT stock exchange ended with a loss, this is not yet a reason for panic on the market. Such changes are a natural reaction to the wave of previous price increases. There is also a slowdown in the downward trend in domestic milk prices.
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