The Global Dairy Trade (GDT) index has posted a strong increase in the second auction of 2021 to mark five increases on the bounce in recent outings.
The most recent tender – event 276 – concluded today (Tuesday, January 19) with the GDT Price Index up 4.8%.
Lasting two hours and 47 minutes, today's event saw 181 participating bidders battle it out across 21 rounds with 93 winning bidders emerging.
A total of 29,606MT of product was sold on the day.
- AMF index up 17.2%, average price US$5,398/MT;
- Butter index up 4.6%, average price US$4,735/MT;
- BMP not offered;
- Ched index down 0.3%, average price US$4,082/T;
- LAC index up 6.6%, average price US$1,173/MT;
- SMP index up 7.0%, average price US$3,243/MT;
- SWP not offered;
- WMP index up 2.2%, average price US$3,380/MT.
The big winner on the day was the anhydrous milk fat (AMF) index, which soared by 17.2%. Skim milk powder (SMP) and lactose (LAC) recorded increases also, of 7% and 6.6% respectively.
Meanwhile, butter and whole milk powder (WMP) recorded more moderate gains of 4.6$ and 2.2% respectively to index.
The only reduction on the day was recorded by cheddar which fell marginally by 0.3%.
Butter milk powder (BMP) was not offered at today's event, while sweet whey powder was once again also unavailable.
Today's overall index increase is the largest gain recorded in recent months and continues the strong start to 2021.