Latest GDT concludes with rise for third consecutive increase

The latest Global Dairy Trade (GDT) event finished with an increase in index, building on two marginal rises in recent auctions.

The most recent tender – event 262 – concluded yesterday afternoon, Tuesday, June 16, with the GDT Price Index up 1.9%.

Lasting two hours and 20 minutes, yesterday’s event saw 166 participating bidders go head-to-head across 16 rounds, with 104 winning bidders emerging.

A total of 21,410MT of product was sold on the day.

Key results:
  • AMF index up 0.8%, average price US$3,993/MT;
  • Butter index down 1.0%, average price US$3,597/MT;
  • BMP not offered;
  • Ched index up 1.4%, average price US$3,631/MT;
  • LAC index up 0.4%, average price US$1,290/MT;
  • SMP index up 3.1%, average price US$2,609/MT;
  • SWP index not available, average price not available;
  • WMP index up 2.2%, average price US$2,829/MT.

In what was a relatively stable auction overall, skim milk powder (SMP) was the big winner on the day, recording a 3.1% boost in index.

Whole milk powder (WMP) also performed strongly, recording a 2.2% rise in index, while cheddar (Ched) rose by 1.4% in index.

Anhydrous milk fat (AMF) recorded a 0.8% lift with lactose (LAC) too seeing a marginal increase of 0.4% in index.

Butter was the only product to record a decrease in index on the day, with a 1% drop documented.

Source: Global Dairy Trade

Butter milk powder (BMP) was not offered on the day, while sweet whey powder (SWP) was once again not available.

Yesterday’s result is the third rise in index recorded on the trot by GDT, albeit by low amounts, following a rather turbulent spring.