Global Dairy Trade (GDT): stabilizing? - UOB

Analysts at UOB Group noted that the prices in the latest Global Dairy Trade (GDT) auction in New Zealand, the 14th sale of calendar 2017, rose 0.2% following this week a 0.4% decline at the previous sale with volatility sharply reduced over the past four auctions. 

Key Quotes:

"Whole Milk Powder prices rose 0.3% following a 2.6% gain previously, although Skim Milk Powder prices declined 3.2%, the second successive decline. 

Much of the focus within the dairy sector has continued to be on butter given very sharp price rises this year and prices rose 3.4% in the latest auction."