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Prices dip in GDT auction

NZ Newswire logoNZ Newswire 20/12/2016
The Fonterra head office in Fanshawe St, Auckland © Getty The Fonterra head office in Fanshawe St, Auckland

Prices at Fonterra's fortnightly GlobalDairyTrade auction have dipped slightly, with markets expecting the drop because of more product on offer.

The GDT index dropped 0.5 per cent with the averaged price at $US3656 ($NZ5283) per tonne on Wednesday morning (NZT). It was the first negative result since the beginning of October.

The important whole milk powder price was down 0.8 per cent to $US3568.

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