The Global Dairy Trade (GDT) Price Index has recorded its fourth consecutive increase following a trading event today (Tuesday, October 17).
As a result of today’s auction, the index increased by 4.3% when compared to the previous event on October 3 to 994.
The GDT Price Index has been on an upward trajectory since the beginning of September, however it still remains at levels last seen in late 2020.
The index dropped to its lowest level in 2023 on August 15 when it slumped to 850.
35,974MT of dairy products were sold during today’s auction, with 117 winning bidders out of 167 participants.
There were 18 rounds of bidding which took almost 2hr and 40 minutes to complete.
The average price today stood at $3,202/MT.
All of the products offered for sale during the auction saw an increase in average price, butter milk powder (BMP) was not offered at this event.
The average price of anhydrous milk fat jumped by 7.1% to $5,310/MT, this follows a 3.7% increase at the previous auction.
Skim milk powder (SMP) average price rose by 4.3% to $2,659/MT, while there was a similar increase for whole milk powder (WMP) to $3,059/MT.
There was an rise of 2.9% for butter to $4,940/MT, there were marginal gains for cheddar (+0.2%) to $3,858/MT and lactose (+0.2%) to €599/MT.