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Another lift for Butter and Cheddar at the latest GDT event
Thursday, 22 October 2020
By Bronwyn Magee
The Global Dairy Trade (GDT) price index lifted by 0.4% at the latest event (20 October) with notable increases in the price of Butter and Cheddar, both performing better than market expectations for the event.
The SMP weighted average price remained steady (-0.2%) on the previous event at $2,851/tonne. Despite market reports anticipating a lift in price, WMP also held relatively stable, increasing a marginal 0.3% to $3,037/tonne. These two products accounted for around three-quarters of all volumes sold (34,648 tonnes).
The weighted average price of butter stood at $3,678/tonne, lifting 3.3% on the last event. This follows an uplift of 8.4% at the previous auction, making prices the highest seen since July. Cheddar prices also increased, lifting 3.0% to $3,803/tonne.
AMF remained relatively steady on the last event, falling just 0.5% to an average weighed price of $4,110/tonne
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