GDT takes hit for 7th consecutive auction
The latest Global Dairy Trade (GDT) index has taken yet another hefty blow at its most recent auction – event 224 – which concluded with the GDT Price Index down 3.5%.
This marks the seventh consecutive fall in index for the milk price indicator.
Lasting two hours and four minutes, 170 bidders participated across 15 rounds with a total of 143 emerging with winning bids.
A total of 42,966MT of product were sold at today’s auction.
- AMF index down 9.4%, average price US$4,577/MT;
- Butter index down 9.6%, average price US$3,637/MT;
- BMP not offered;
- Ched index up 0.2%, average price US$3,252/MT;
- LAC index up 1.1%, average price US$920/MT;
- RenCas index down 4.5%, average price US$5,067/MT;
- SMP index down 1.6%, average price US$1,965/MT;
- SWP index not available, average price not available;
- WMP index down 1.8%, average price US$2,599/MT.
Butter was the most dramatic mover on the day, taking a substantial 9.6% hit in index, while Anhydrous Milk Fat (AMF) also dropped by a hefty 9.4%.
Rennet Casein also saw a decrease of 4.5% in index.
The only products on the day to see some increase were cheddar (Ched) and lactose (LAC), which rose marginally by 0.2% and 1.1% respectively.
Butter Milk Powder (BMP) was not offered at today’s event, while Sweet Whey Powder’s (SWP’s) index was once again not available.
Barring a hold in index back on August 7, 11 out of the past 12 GDT events have recorded a decrease in index, while one would have to go back to May 15 for the last increase in GDT.