GDT announces first index drop in 9 outings
The Global Dairy Trade (GDT) index has posted a decrease in index for the first time in nine outings – and the first reduction recorded in 2021.
The most recent tender – event 280 – concluded today (Tuesday, March 16) with the GDT Price Index down 3.8%.
Lasting three minutes over the two-hour mark, today’s event saw 161 bidders participate; after 16 bidding rounds, some 93 winning bidders emerged.
A total of 26,872MT of product was sold on the day.
- AMF index up 3.7%, average price US$6,155/MT;
- Butter index down 2.8%, average price US$5,659/MT;
- BMP not offered;
- Ched index not available, average price US$4,250/MT;
- LAC index up 8.6%, average price US$1,392/MT;
- SMP index up 0.7%, average price US$3,350/MT;
- SWP not offered;
- WMP index down 6.2%, average price US$4,083/MT.
The most dramatic move on the day was actually an increase – lactose rose by 8.6% in index at today’s event. There were increases too for anhydrous milk fat and skim milk powder, rising by 3.7% and 0.7%.
These were countered by a hefty decrease of 6.2% for whole milk powder (WMP) as well as a drop of 2.8% for the butter index.
Butter milk powder was not offered on the day while the cheddar index was not available.
Once again sweet whey powder was also not offered.
Today’s index drop was quite moderate compared to the 15% surge at the previous outing but more in line with the previous gains going back over recent months.
The index figure of 1,295 is, with the exception of last month, the highest the figure has been since March 2014.