GDT index plummets in latest auction

The Global Dairy Trade (GDT) index has plummeted following the conclusion of the latest auction, to mark back-to-back drops.

The most recent tender – event 265 – concluded this afternoon, Tuesday, August 4, with the GDT Price Index down 5.1%.

Lasting two hours and 29 minutes, today’s event saw 164 bidders participate across 19 rounds with 132 winning bidders recorded.

A total of 32,696MT of product was sold on the day.

Key results:
  • AMF index up 3.0%, average price US$3,994/MT;
  • Butter index down 2.8%, average price US$3,438/MT;
  • BMP index down 6.5%, average price US$2,259/MT;
  • Ched index down 5.3%, average price US$3,568/MT;
  • LAC index up 5.7%, average price US$1,349/MT;
  • SMP index down 4.6%, average price US$2,583/MT;
  • SWP index not available, average price not available;
  • WMP index down 7.5%, average price US$3,003/MT.

Powders across the board had a tough day at the office, with whole milk powder (WMP) seeing the most dramatic move – a 7.5% drop in index.

Butter milk powder (BMP) decreased by 6.5% in index, while the skimmed milk powder (SMP) index recorded a 4.6% slump. Cheddar (Ched) too marked a decrease of 5.3% in index, while the butter index slipped down 2.8%.

Lactose (LAC) rose by 5.7% on the day, while anhydrous milk fat (AMF) saw a 3% increase in index also.

Once again, sweet why powder (SWP) was not available on the day.

Source: Global Dairy Trade

Today’s event marks back-to-back decreases following a marginal drop in the overall GDT index on the last outing; however, this had been preceded by four index consecutive increases including an 8.3% lift last month.