GDT slumps as weak Chinese demand keeps buyers away

GDT slumps as weak Chinese demand keeps buyers away

GDT event 307 produced a large fall in prices across the board as the fears of the effects of protracted COVID restrictions in China kept buyers on the sidelines. SMP fell 6.3% or $278t on average to $4,130/t. Fonterra MH C2 lost $225/t to $4,185/t, but the forward...
GDT slumps as weak Chinese demand keeps buyers away

GDT slides on weaker demand

Prices for all commodities fell at this week’s GDT event #306. There were some offer volume increases for WMP and fats before this event, which added to the weakness in relative starting demand, while powder futures were also softer in the run-up. SMP fell 4.2% or...
GDT slumps as weak Chinese demand keeps buyers away

GDT #305 slides again

This event fostered a continued divergence between Oceania and EU markets and followed the form of the previous auction 3 weeks ago, as WMP and butterfat prices weakened and SMP crept higher. The index fell 1.0% on the weight of the WMP volumes. SMP lifted 1.2% or...
GDT slumps as weak Chinese demand keeps buyers away

GDT 304 stumbles

The recent strong rally in GDT prices ended at last night’s event after a run of 5 gains, but the result was mixed as WMP and butter prices weakened and SMP and AMF crept higher on solid demand. The index fell 0.9%. WMP fell 3.4% or US$161/t on average to US$4,596/t...
GDT slumps as weak Chinese demand keeps buyers away

GDT pushes to new highs

GDT event 303 reached an all-time high for the platform with a 5.1% leap. This was a driven by the strong demand across all commodities. Futures prices for milk powders and fats foretold most of this outcome and infer there is more to come. SMP lifted 4.3% or US$186t...
GDT slumps as weak Chinese demand keeps buyers away

GDT prices push higher

There was another strong result on GDT last night that reflected the continuing tight global supplies of dairy ingredients and products. The index added 4.2% to inch closer to the all-time GDT average outcome. SMP lifted 6.0% or US$244/t on average to US$4,295/t, the...