Corrected: Dairy prices fall, volumes drop at auction - GDT Events (Oct 21)

Fonterra Shareholders' Fund

24/10/2025 08:45

Corrects headline and paragraph 1 in October 21 story to say dairy prices fell not rose, corrects percentage in paragraph 2 to down 1.4% from up 21.9%

Oct 24 (Reuters) - International milk prices fell and volumes dropped in this month's second Global Dairy Trade auction held by GDT Events.

The GDT Price Index slipped 1.4%, with an average selling price of $3,881 per metric ton, in the auction held on Tuesday.

The index fell 1.6% at the previous sale,  according to GDT Events.

A total of 40,621 tons was sold at the latest auction, falling 3.3% from the previous one, the auction platform said on its website (www.globaldairytrade.info).

The auctions are held twice a month, with the next one scheduled for November 4.

The auction results can affect the New Zealand dollar NZD= as the dairy sector generates more than 7% of the nation's gross domestic product.

The New Zealand milk co-operative, which is owned by about 10,500 farmers, controls nearly a third of the world dairy trade.

GDT Events is owned by New Zealand’s Fonterra Co-operative Group Ltd FCG.NZ, but operates independently from the dairy giant.

U.S.-listed CRA International Inc CRAI.O is the trading manager for the twice-monthly Global Dairy Trade auction.

 (Bangalore Commodities desk)

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