GDT takes further hit in September auction
The Global Dairy Trade (GDT) index has taken yet another slight hit in the most recent auction – Event 220 – which concluded with the GDT Price Index down 1.3%.
Lasting two hours and 14 minutes across 15 bidding rounds, 179 bidders participated on the day.
A total of 149 of these emerged with winning bids, while an overall, 39,143 million tonnes of product were sold on the day.
The average price achieved was $2,934/MT.
This follows on from the previous auction which recorded the lowest index since October 2016.
- AMF index down 0.6%, average price US$5,294/MT;
- Butter index down 0.1%, average price US$4,270/MT;
- BMP not offered;
- Ched index down 3.5%, average price US$3,503/MT;
- LAC index down 0.3%, average price US$910/MT;
- RenCas index up 1.7%, average price US$5,421/MT;
- SMP index down 1.1%, average price US$1,980/MT;
- SWP index not available, average price not available;
- WMP index down 1.8%, average price US$2,768/MT.
Cheddar saw the most dramatic move on the day, seeing a 3.5% reduction in index. Meanwhile, whole milk powder (WMP) witnessed a 1.8% drop.
On the other hand, Rennet Casein (RenCAS) jumped by 1.7%, in what was the only product index increase on the day.
Butter was not offered at today’s event, while the sweet milk powder (SWP) index was once again not available.