GDT down 2.8%

It’s a sign of how worried we were that a drop of 2.8% in this morning’s GlobalDairyTrade auction has been greeted with relief.

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gDT.16216

 

3 Responses to GDT down 2.8%

  1. Brown says:

    Its interesting that the mainstream media are openly talking about the banks losing money because of their exposure to dairy farming. When it gets to that point things must be pretty serious.

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  2. Dave Kennedy says:

    Good point, Brown, and it also makes one consider the banks’ own culpability for lending in the first place. The blame shouldn’t just be dropped on the farmer or the industry, lots of businesses and people wanted to jump on the dairy bandwagon.

    It is interesting that for some time many wise people have been warning about the wisdom of so many eggs in one basket and questioning just how many dairy farms were sustainable. It looks like we are now finding out the hard way.

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  3. Brown says:

    Sales targets leads to selling. Sometimes those sales will be to people you wouldn’t sell to if the boss wasn’t fixated with numbers rather than quality.

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