The GDT index eased 0.4% in the latest auction to settle for an average price of US$3833 a tonne and 88% of product on offer sold.
Results were varied across the product mix, with whole milk powder (WMP), butter and lactose pulling the index down, while all others increased.
NZX dairy analyst Rosalind Crickett said the results were a little off their expectations, led by a soft drop in WMP and butter.
WMP eased -2.5% to settle at an average of US$3396/t, not retracing too much of the gains made at the previous auction.
Skim milk powder (SMP) climbed 4.5% to settle at US$2753/t – its fourth highest average price achieved in the past 12 months.
There was little price movement in the milk fats compared to the last auction. There was a slight divergence in pricing this time, with AMF rising a marginal 0.7% to round the auction out at an average of US$7311/t – its fourth consecutive increase.
Butter softened down 0.9% to US$6675/t. Cheddar also saw a modest uptick of 0.9%, closing out the auction at US$4324/t.
The largest price movement activity at this auction was in lactose, mozzarella and buttermilk powder (BMP), with lactose falling 8.9%.
Mozzarella skyrocketed 7% to settle at US$5145/t and BMP prices leapt 8.4% to US$3024/t.
Regional buying was again led by North Asia, which took out the lion’s share of both milk powders, milk fats and cheddar – accounting for 47% of all product volume.
Southeast Asia/Oceania was the next top purchaser volumes-wise, absorbing 30% of all product.
