At the most recent auction, the GDT price index posted a solid gain, with whole milk powder (WMP) and skim milk powder (SMP) among the key drivers. Whole milk powder — New Zealand’s flagship export commodity — recorded a notable lift, reflecting steady global demand and constrained supply expectations. For New Zealand exporters, higher GDT prices provide welcome support following earlier market softness. The price improvements may bolster farmgate milk price forecasts if the trend continues, though analysts warn that volatility remains elevated. The interplay between global supply, buyer confidence and macroeconomic pressures will shape price direction in coming months.

Source: Otago Daily Times March 04, 2026 20:46 UTC