Alexandra Winning-Browne, NZX dairy analyst
Last week’s Global Dairy Trade (GDT) Pulse event 17 saw a second consecutive ease in the price of C2 regular grade whole milk powder (WMP). Prices eased 2.28% at last week’s auction, settling at US$3210/t, down US$75/t from the previous Pulse auction, and a drop of US$30/t from the C2 WMP regular price achieved at GDT event 326.
There were 15 winning bidders (down 7), from 29 (down 3) participating bidders. The auction lasted six rounds (up 1), taking only 10 minutes compared to eight at the last auction. All 1000mt on offer was sold.
This result prices C2 regular WMP much lower than where the nearest SGX-NZX WMP future is priced currently, which finished trading after the auction’s results at US$3325/t, US$30/t lower than settlement before the auction.