GDT drops again in latest auction as powders take a hit

The Global Dairy Trade (GDT) has dropped in index for a fourth fall on the trot following its latest tender yesterday, Tuesday, March 17.

Yesterday’s auction – event 256 – concluded with the GDT Price Index down 3.9%, according to the trading platform.

Lasting two hours and 37 minutes, the event saw 165 bidders go head-to-head across 19 rounds with 116 winning bidders emerging.

A total of 24,209MT of product was sold on the day.

Key results:
  • AMF index up 1.0%, average price US$4,331/MT;
  • Butter index up 0.3%, average price US$4,144/MT;
  • BMP not offered;
  • Ched index up 2.6%, average price US$4,398/MT;
  • LAC index up 4.9%, average price US$914/MT;
  • RenCas index up 1.0%, average price US$9,987/MT;
  • SMP index down 8.1%, average price US$2,527/MT;
  • SWP index not available, average price not available;
  • WMP index down 4.2%, average price US$2,797/MT.

The event marked a bad day in the office for powders on offer – the most dramatic move on the day was for skim milk powder (SMP) which plummeted by 8.1%, while whole milk powder (WMP) dropped by 4.2%.

However, on the flip side, lactose (LAC) saw a rise of 4.9% in index on the day, with index rises also recorded for cheddar (Ched), rennet casein (RenCas) and anhydrous milk fat (AMF) – which saw increases of 2.6%, 1% and 1% respectively.

Butter also saw a marginal rise of 0.3% on the day.

Butter milk powder (BMP) was not offered at yesterday’s event, while sweet whey powder was also once again not available.

Source: Global Dairy Trade

The latest index marks a fourth consecutive drop for GDT, following auctions in February and March.

The current GDT figure of 929 is the lowest the index has been at since January 2019, though still higher than figures recorded in November 2018.