GDT returns to growth with slight increase this week

The Global Dairy Trade (GDT) has returned to growth after a decrease in the index last time out, which was the first decrease since August. In the latest auction – event 299 – the index increased by 0.3%, with an average product price of $4,247/MT and 30,685MT of product sold. The event, which was held yesterday (Tuesday, January 4), saw 112 winning bidders emerge from 156 participating, over 2 hours and 16 minutes which saw 15 bidding rounds altogether.

The GDT index figure now stands at 1,336, a marginal increase on the 1,333 recorded on December 21 – but a little way off the 1,354 figure seen on December 7.

Of the six products offered yesterday (lactose and, as usual, sweet whey powder were not offered) four recorded increases in their respective sub-indices. The strongest performer was cheddar, which increased by 4.9% to $5,487/MT. Butter milk powder (BMP) and skim milk powder (SMP) both saw increases on 1%, to $3,654/MT and $3,773/MT respectively.
Image source: GDT January 4
Data source: GDT
Butter saw a marginal increase of 0.3%, to $5,868/MT. Anhydrous milk fat (AMF) was the only product to see a decrease in sub-index, reducing by 0.7% to $6,668/MT. Whole milk powder (WMP) was not recorded as having a percentage change either way, and its price decreased by just $1/MT to $3,866/MT. The key results from this event are summarised below:
  • AMF index down 0.7%, average price $6,668/MT;
  • Butter index up 0.3%, average price $5,868/MT;
  • BMP index up 1%, average price $3,654/MT;
  • Cheddar index up 4.9%, average price $5,487/MT;
  • SMP index up 1%, average price $3,773/MT;
  • WMP index unchanged, average price $3,866/MT.