{"id":65418,"date":"2023-06-21T15:15:13","date_gmt":"2023-06-21T03:15:13","guid":{"rendered":"https:\/\/www.farmersweekly.co.nz\/?p=65418"},"modified":"2023-06-21T15:49:18","modified_gmt":"2023-06-21T03:49:18","slug":"dairy-price-movements-add-up-to-nought","status":"publish","type":"post","link":"https:\/\/www.farmersweekly.co.nz\/markets\/dairy-price-movements-add-up-to-nought\/","title":{"rendered":"Dairy price movements add up to nought"},"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>\n<p>The Global Dairy Trade price index remained unchanged after the second fortnightly June auction, underpinned by whole milk powder prices that were unmoved.<\/p>\n\n\n\n<p>Within the components of the GDT index, falls in skim milk powder and cheddar were balanced by a 5.5% increase for butter.<\/p>\n\n\n\n<p>SMP was down 2.3%, cheddar down 3.3% and anhydrous milk fat up 0.5%.<\/p>\n\n\n\n<p>Before the GDT event, analysts had forecast that prices would fall and so the sideways movement collectively was a good result to help stabilise the farmgate milk price forecasts for farmers.<\/p>\n\n\n\n<p>NZX dairy analyst Alex Winning said the lack of supply\/demand fundamentals provided no momentum to the market.<\/p>\n\n\n\n<p>\u201cPrices seem to be bouncing around in a channel, and this auction provides more weight to that.\u201d<\/p>\n\n\n\n<p>The SGX-NZX Dairy Derivatives market beforehand had indicated price reductions in every commodity except AMF.<\/p>\n\n\n\n<p>Winning said the flat result was not unexpected by market participants.<\/p>\n","protected":false},"excerpt":{"rendered":"Flat result was not unexpected by market.\n","protected":false},"author":33,"featured_media":29345,"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":[2],"tags":[28,55,97],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO Pro 4.6.2 - aioseo.com -->\n\t\t<meta name=\"description\" content=\"Flat result was not unexpected by market.\" \/>\n\t\t<meta name=\"robots\" content=\"max-image-preview:large\" \/>\n\t\t<link rel=\"canonical\" href=\"https:\/\/www.farmersweekly.co.nz\/markets\/dairy-price-movements-add-up-to-nought\/\" \/>\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\" content=\"Farmers Weekly\" \/>\n\t\t<meta property=\"og:type\" content=\"article\" \/>\n\t\t<meta property=\"og:title\" 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