Global Dairy Trade Auction Moves Lower, Again
The all-contract aggregate of the Global Dairy Trade Auction in New Zealand moved lower again on Tuesday. Whole milk powder and skimmed milk powder were the lone products to see positive movement in the sale, gaining 0.8% and 1.5% respectively.
Rennet Casein felt the most significant losses at 9.5%. Butter lost 8.1% and anhydrous milk fat lost 5.2%. Cheddar also moved lower, losing 3.3%.
The trade weighted all-products aggregate lost 1.7% following the event’s nosedive loss of 5% two weeks ago.
This week, the auction included 168 bidders compete across 15 rounds, with 126 winning participants. A total of 25,454MT was sold.