GDT index bounces back in latest auction

The latest Global Dairy Trade (GDT) auction – Event 244 – concluded on a high earlier today, Tuesday, September 17, recording an increase in index.

Today’s event ended with the GDT Price Index up 2.0%, the trading platform announced.

Lasting two hours and three minutes, the auction saw 189 bidders compete across 13 rounds with 127 emerging as winning bidders.

A total of 37,345MT of product was sold at today’s event.

Key results:
  • AMF index up 0.6%, average price US$5,030/MT;
  • Butter index up 2.7%, average price US$4,129/MT;
  • BMP not offered;
  • Ched index up 0.4%, average price US$3,846/MT;
  • LAC index up 5.6%, average price US$770/MT;
  • RenCas index down 0.1%, average price US$6,636/MT;
  • SMP index up 3.4%, average price US$2,599/MT;
  • SWP index not available, average price not available;
  • WMP index up 1.9%, average price US$3,133/MT.

In terms of the most dramatic movements on the day, lactose (LAC) rose by 5.6%; while skimmed milk powder (SMP) increased by 3.4%.

The only decrease in product index today was for that of rennet casein (RenCas) which fell marginally by 0.1%.

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

Image source: Global Dairy Trade

Today’s event brings to a halt a run of three consecutive falls in the GDT index, following two marginal falls in recent weeks.