The Global Dairy Trade (GDT) index has bounced back with an increase this week, following a solitary decrease on the previous outing.
The most recent auction - event 272 - concluded yesterday (Tuesday, November 17) with the GDT Price Index up 1.8%.
Lasting two hours and 11 minutes, yesterday's tender saw 164 bidders go head to head across 16 rounds with 110 winning bidders emerging.
A total of 35,303MT of product was sold on the day.
- AMF index up 4.1%, average price US$4,175/MT;
- Butter index up 0.4%, average price US$3,838/MT;
- BMP not offered;
- Ched index down 3.5%, average price US$3,641/MT;
- LAC index down 18.8%, average price US$887/MT;
- SMP index up 2.5%, average price US$2,799/MT;
- SWP index not available, average price not available;
- WMP index up 1.8%, average price US$3,037/MT.
The most dramatic move in index on the day was for the lactose (LAC) index, which plummeted some 18.8%. Cheddar also fell in index on the day, down 3.5%.
On the flip side, anhydrous milk fat (AMF) rose by 4.1% in index, skim milk powder (SMP) rose by 2.5% in index and whole milk powder (WMP) increased by 1.8% on the day.
Butter also saw a slight rise in index, up 0.4% in the auction.
Butter milk powder (BMP) was not offered on the day, while sweet whey powder (SWP) was once again not available.
Yesterday's increase puts the index back on a rising trajectory following the decrease recorded in the last outing. This followed three increases on the trot, which in turn were following four consecutive decreases in recent months.