GDT gets a lift in latest auction after 7 consecutive drops
The latest Global Dairy Trade (GDT) index has got a lift in its most recent auction – event 225 – which concluded with the GDT Price Index up 2.2%.
This increase comes after seven consecutive falls in index for the milk price indicator.
Lasting two hours and 16 minutes, 178 bidders participated across 18 rounds with a total of 139 emerging with winning bids.
A total of 36,450MT of product was sold at today’s auction.
- AMF index up 3.9%, average price US$4,755/MT;
- Butter index up 2.7%, average price US$3,745/MT;
- BMP index up 16.9%, average price US$2,973/MT;
- Ched index down 2.2%, average price US$3,184/MT;
- LAC index up 0.5%, average price US$918/MT;
- RenCas index up 2%, average price US$5,167/MT;
- SMP index up 0.3%, average price US$1,970/MT;
- SWP index not available, average price not available;
- WMP index up 2.5%, average price US$2,667/MT.
BMP was the most dramatic mover on the day, getting a substantial 16.9% rise in index, while Anhydrous Milk Fat (AMF) also dropped by a hefty 9.4%.
Cheddar saw a decrease of a notable 2.2% in its price index.
The only product on the day to see a decrease was cheddar (Ched), while all the other products experienced a rise.
All products were offered at today’s event, and Sweet Whey Powder’s (SWP’s) index was once again not available.
Excluding today’s auction, 11 out of the past 12 GDT events had recorded a decrease in index, while one would have had to go back to May 15 for the last increase in GDT.