GDT index drops slightly in latest event
The Global Dairy Trade (GDT) index has recorded a slight drop to mark back-to-back decreases for the first time this year in its latest auction.
The most recent tender – event 283 – concluded today (Tuesday, May 4) with the GDT Price Index down 0.7%.
Lasting two hours and seven minutes, today’s event saw 148 participating bidders take part across 17 bidding rounds, with 108 winning bidders emerging.
A total of 22,020MT of product was sold on the day.
- AMF index down 4.2%, average price US$5,730/MT;
- Butter index down 12.1%, average price US$5,035/MT;
- BMP index up 14.4%, average price US$4,222/MT;
- Ched index down 4.5%, average price US$4,274/MT;
- LAC index down 2.0%, average price US$1,236/MT;
- SMP index up 2.0%, average price US$3,433/MT;
- SWP not offered;
- WMP index up 0.7%, average price US$4,115/MT.
The most dramatic move on the day was an increase – butter milk powder (BMP) elevated by 14.4% in index. There were index rises too for skim milk powder (SMP) and whole milk powder (WMP), with increases of 2% and 0.7% respectively.
On the flip side, butter took a heavy tumble in index, down 12.1%, while there were also drops for cheddar, anhydrous milk fat AMF) and lactose – 4.5%, 4.2% and 2% respectively.
Once again, sweet whey powder (SWP) was not offered at today’s event.
Today’s auction is the first time in a number of months – stretching back into 2020 – since there have been (albeit small) back-to-back decreases in index, following a strong showing from the overall index over the last six months.