{"id":44559,"date":"2021-07-21T00:00:00","date_gmt":"2021-07-20T12:00:00","guid":{"rendered":"https:\/\/www.farmersweekly.co.nz\/gdt-slumps-ahead-of-spring-peak\/"},"modified":"2021-07-21T00:00:00","modified_gmt":"2021-07-20T12:00:00","slug":"gdt-slumps-ahead-of-spring-peak","status":"publish","type":"post","link":"https:\/\/www.farmersweekly.co.nz\/news\/gdt-slumps-ahead-of-spring-peak\/","title":{"rendered":"GDT slumps ahead of spring peak"},"content":{"rendered":"<span class=\"rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\">&lt; 1<\/span> <span class=\"rt-label rt-postfix\">minute<\/span><\/span><p>Fonterra removed large tonnages of whole milk powder (WMP) from GDT auctions in recent times, but that did not stop GDT prices from falling 3.8% average across all contract periods and powder grades.<\/p>\n<p>Skim milk powder (SMP) also fell 5.2% to below US$3000\/tonne and has opened up a $750 gap with WMP.<\/p>\n<p>Lactose was down 8.9%, butter 0.8% and anhydrous milk fat (AMF) down 0.3%. The only gain was for cheddar at 1.3%.<\/p>\n<p>After commenting that powder prices seemed to be in free fall, NZX dairy analyst Stuart Davison said prices were coming off highs and some correction was always to be expected.<\/p>\n<p>\u201cOverall, this result will have a negative effect on the farm gate milk price forecast and will put a dampener on the season\u2019s outlook for farmers,\u201d Davison said.<\/p>\n<p>Buyers may be betting on high farm gate prices, causing NZ milk production to increase and\/or sitting out of the auction at this time.<\/p>\n","protected":false},"excerpt":{"rendered":"Another 2.9% fall in the Global Dairy Trade (GDT) price index has raised fears that the big spring boost in New Zealand milk production will oversupply markets for dairy commodities.\n","protected":false},"author":33,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_FSMCFIC_featured_image_caption":"","_FSMCFIC_featured_image_nocaption":"","_FSMCFIC_featured_image_hide":"","footnotes":""},"categories":[3],"tags":[],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO Pro 4.6.2 - aioseo.com -->\n\t\t<meta name=\"description\" content=\"Another 2.9% fall in the Global Dairy Trade (GDT) price index has raised fears that the big spring boost in New Zealand milk production will oversupply markets for dairy commodities.\" \/>\n\t\t<meta name=\"robots\" content=\"max-image-preview:large\" \/>\n\t\t<link rel=\"canonical\" href=\"https:\/\/www.farmersweekly.co.nz\/news\/gdt-slumps-ahead-of-spring-peak\/\" \/>\n\t\t<meta name=\"generator\" content=\"All in One SEO Pro (AIOSEO) 4.6.2\" \/>\n\t\t<meta property=\"og:locale\" content=\"en_US\" \/>\n\t\t<meta property=\"og:site_name\" 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