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.

Key results:
  • 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.

Source: Global Dairy Trade

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.

Source: Global Dairy Trade