The GDT price index recorded it largest fall for 12 month, down 4.1% on a larger offering at GDT #383.

With a 75% increase in volume offered, WMP prices fell 5.5% on average to US$3,859/t. The Regular C2 prices was 1.5% down on last week’s Pulse. Chinese purchases accounted for more than 50% of sales, but overall demand was lower. SMP prices fell 5.5% on average to US$2,718/t. NZ Medium Heat C2 prices lineball with auction #382 but with later deliveries—coinciding with the spring peak—losing near 5%. The C2 price lifted 2.8% on last week’s Pulse.

With volumes increased above forecast for this week’s auction, butter prices fell 4.7% compared to GDT #382 to average US$7,522/t. NZ product fared worst, the C2 price down 5.3% while Solarec C2 price fell 0.8%. The average AMF price fell 4.8%, with large falls in later contracts. Cheese prices lost 2.6% to average US$4,860/t. The NZ young cheddar C2 price fell 1.8% while EU mozzarella increased 0.8% compared to GDT #382.