The Global Dairy Trade (GDT) index has dropped once more in its latest product auction, held earlier today (Tuesday, August 21).

The most recent auction - Event 218 - concluded with the GDT Price Index down 3.6% overall.

Lasting three minutes short of the two-hour mark, 158 bidders participated across 13 rounds with 126 emerging victorious in their bids.

Some 32,041MT of product was sold on the day overall.

Key Results:

  • AMF index down 6.9%, average price US$5,321/MT;
  • Butter index down 8.5%, average price US$4,392/MT;
  • BMP not offered;
  • Ched index down 4.7%, average price US$3,484/MT;
  • LAC index not available, average price US$914/MT;
  • RenCas index up 2.8%, average price US$5,138/MT;
  • SMP index down 1.3%, average price US$1,951/MT;
  • SWP index not available, average price not available;
  • WMP index down 2.1%, average price US$2,883/MT.

The most dramatic moves at the event saw the Butter index tumble, falling by 8.5%, Anhydrous Milk Fat drop 6.9%, while Cheddar also took a hefty 4.7% hit.

Rennet Casein was the only product on the day to experience a lift in index, increasing by 2.8%.

Butter Milk Powder was not offered at this event, while neither Lactose nor Sweet Whey Powder were available.

[caption id="attachment_295542" align="aligncenter" width="736"] Source: Global Dairy Trade[/caption]

With the exception of a brief reprieve at the previous auction - where the overall index remained unchanged - recent events throughout June, July and now August have been negative for the international dairy index.