Sizeable GDT surge signals 8 increases on the bounce
The Global Dairy Trade (GDT) index has posted a sizeable increase of 15% in the fifth auction of 2021 to mark eight increases on the bounce in recent outings.
The most recent tender – event 279 – concluded today (Tuesday, March 2) with the GDT Price Index up 15.0%.
Lasting two hours and 53 minutes, today’s event saw 180 bidders participate; after 23 bidding rounds, some 86 winning bidders emerged.
A total of 25,554MT of product was sold on the day.
- AMF index up 7.4%, average price US$5,929/MT;
- Butter index up 13.7%, average price US$5,826/MT;
- BMP index down 0.3%, average price US$3,144/MT;
- Ched index up 1.3%, average price US$4,280/MT;
- LAC index up 4.9%, average price US$1,278/MT;
- SMP index up 3.5%, average price US$3,302/MT;
- SWP not offered;
- WMP index up 21.0%, average price US$4,364/MT.
Whole milk powder (WMP) saw the most dramatic rise on the day, increasing by a considerable 21% in index.
This was followed by butter, which rose by 13.7% in index, while anhydrous milk fat (AMF) also recorded a large increase of 7.4%.
Lactose, skim milk powder (SMP) and cheddar had more moderate rises, recording index increases of 4.9%, 3.5% and 1.3% respectively.
Butter milk powder (BMP) was the only product to record a decrease to its index, announcing a marginal 0.3% drop.
Once again, sweet whey powder (SWP) was not offered at today’s event.
Today marks the highest the GDT index has been since March 2014 in what has been a remarkable start to 2021 for the dairy index.