For the first time since March 1, 2022, the Global Dairy Trade (GDT) index has recorded an increase following its latest trading event, which took place today (Tuesday, June 7).

Event number 309 saw the GDT rise by 1.5% following five consecutive events in which the index was in decline.

This reflects an average price of $4,656/MT of product sold.

Image: Global Dairy Trade

The index now stands at 1,359, up from 1,340 on May 17 but significantly down from the index on March 1, when it hit an all-time high of 1,593.

From 14 bidding rounds emerged 111 winning bidders in an event that lasted for just over two hours.

A total of 163 bidders took part and the quantity sold was 21,435MT.

Summary of results  
Number of winning bidders 111
Number of bidding rounds 14
Duration of trading event 2:07
Minimum supply (MT) 20,270
Maximum supply (MT) 23,495
Source: Global Dairy Trade

Key results from the auction indicate that butter saw the largest increase, up 5.6% to $6,068/MT; butter milk powder was up 4.5% to $4,398/MT; skim milk powder increased by 3% to $4,240/MT; while anhydrous milk fat was up 2.7% to $6,201/MT.

However, whole milk powder slipped slightly by 0.3% to $4,158 but cheddar dropped by 3.6% to €5,365.

No information was available for lactose and sweet whey powder.