The Global Dairy Trade (GDT) index has lifted in its latest auction to record a third consecutive increase.
The most recent auction – event 270 – concluded this afternoon (Tuesday, October 20) with the GDT Price Index up 0.4%.
Lasting two hours and 17 minutes, today's auction saw 163 bidders participate. Following 16 rounds, 115 winning bidders emerged.
A total of 34,648MT of product was sold on the day.
- AMF index down 0.5%, average price US$4,110/MT;
- Butter index up 3.3%, average price US$3,678/MT;
- BMP not offered;
- Ched index up 3.0%, average price US$3,803/MT;
- LAC index down 8.0%, average price US$1,087/MT;
- SMP index down 0.2%, average price US$2,851/MT;
- SWP index not available, average price not available;
- WMP index up 0.3%, average price US$3,037/MT.
The most dramatic move on the day was actually a sharp decrease of 8.0% to the lactose (LAC) index. There were also slight drops recorded for anhydrous milk fat (AMF) and skim milk powder (SMP), which fell by 0.5% and 0.2% in index respectively.
On the flip side, butter rose by 3.3% in index, with cheddar also performing strongly, with a 3.0% boost. Whole milk powder (WMP) chalked up a 0.3% lift on the day.
Butter milk powder (BMP) was not offered at today's event, while sweet whey powder (SWP) was once again not available.
Today’s event marks three increases on the trot following four consecutive decreases in recent months. Of these four, three were relatively small drops – which followed a spike of 8.3% back in July.