Whole milk powder hits its highest one-event gain since August 2024.
Global Dairy Trade prices are going to end the 2024-25 New Zealand dairy season with a bang, the GDT index jumping 4.6% in the second-to-last auction.
Whole milk powder rose by a 6.2%, the highest one-event gain since August 2024 and a very positive factor for next season’s farmgate milk price forecasts due out this month.
All products offered on the GDT platform made healthy price gains except mozzarella, down 0.3%, and skim milk powder, plus 0.5%.
Lactose rose 16.8%, cheddar 12%, butter milk powder 6.2%, anhydrous milk fat 5.4% and butter 3.8% to be a whisker under US$8000/tonne, and all-time record price level.
The GDT index is the highest since June 2022 and the supply-demand dynamics point to further increases during the New Zealand winter lay-off.
“This, combined with the tight product supply both on and off the GDT platform as the NZ dairy season draws to a close, has provided bullish market conditions for processors.
“As we look to wrap up the final event for the 2024-25 NZ season, with ongoing trade tensions between the United States and Asian economies, and product supply constraints, there is a likelihood that prices will remain firm in the interim,” she said.
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