The Global Dairy Trade (GDT) index has dropped for the first time in four auctions, following three consecutive increases.
The most recent auction - event 271 - concluded this afternoon (Tuesday, November 3) with the GDT Price Index down 2.0%.
Lasting one hour and 54 minutes, today's tender saw 161 participating bidders go head to head across 14 rounds, with 122 winning bidders recorded.
A total of 35,418MT of product was sold on the day.
- AMF index down 2.6%, average price US$4,002/MT;
- Butter index up 3.9%, average price US$3,822/MT;
- BMP index up 1.2%, average price US$2,617/MT;
- Ched index down 0.8%, average price US$3,786/MT;
- LAC index not available, average price not available;
- SMP index down 4.4%, average price US$2,722/MT;
- SWP index not available, average price not available;
- WMP index down 2.0%, average price US$2,985/MT.
Skim milk powder (SMP) saw the most dramatic move on the day, with its index falling 4.4%. Anhydrous milk fat (AMF) and whole milk powder (WMP) also saw decreases, recording drops of 2.6% and 2% respectively. Cheddar (Ched) too was down, with an index decrease of 0.8%.
On the flip side, the butter index rose by 3.9% while butter milk powder (BMP) also recorded an increase of 1.2%.
An index for lactose (LAC) was not available on the day, while sweet whey powder (SWP) was once again unavailable as well.
Today's fall in index follows three increases on the trot, which in turn were following four consecutive decreases in recent months.