Fifth consecutive rise in GDT in latest auction

The latest Global Dairy Trade (GDT) auction ended on a high today with a substantial gain in overall index.

Today’s tendering – event 229 – concluded with the GDT Price Index up 6.7% overall, marking the fifth successive rise following a difficult latter half to 2018.

Lasting for two hours and 17 minutes, the event saw 177 participating bidders face off across 15 rounds with 106 winning bidders emerging.

A total of 23,326MT of product was sold on the day.

Key Results:
  • AMF index up 5.8%, average price US$5,579/MT;
  • Butter index up 4.2%, average price US$4,445/MT;
  • BMP index down 3.1%, average price US$3,158/MT;
  • Ched index up 1.4%, average price US$3,565/MT;
  • LAC index up 1.3%, average price US$1,035/MT;
  • RenCas index up 10.9%, average price US$5,596/MT;
  • SMP index up 3.9%, average price US$2,534/MT;
  • SWP index not available, average price not available;
  • WMP index up 8.4%, average price US$3,027/MT.

Rennet Casein saw the most significant rise on the day with a considerable 10.9% rise in index, while whole milk powder also fared strongly, recording an 8.4% boost.

Conversely butter milk powder (BMP) saw a slight drop in index, falling by 3.1% – the only negative return on the day.

Other products saw moderate gains at today’s auction.

Source: Global Dairy Trade

Sweet whey powder (SWP) was once again not available at today’s event.

Today’s index increase saw the price index calculation reach its highest level since June 2018 – some eight months ago.