Slide in GDT index halted with boost in latest auction
The Global Dairy Trade (GDT) index has risen in its latest auction, bringing to an end four consecutive decreases
The most recent tender – event 268 – concluded this afternoon (Tuesday, September 15) with the GDT Price Index up 3.6%.
Lasting two hours and 40 minutes, today’s event saw 177 bidders participate, with 123 winning bidders emerging.
A total of 33,791MT of product was sold on the day.
- AMF index up 2.0%, average price US$3,910/MT;
- Butter index down 1.4%, average price US$3,282/MT;
- BMP not offered;
- Ched index up 7.2%, average price US$3,674/MT;
- LAC index down 2.7%, average price US$1,277/MT;
- SMP index up 8.4%, average price US$2,889/MT;
- SWP index not available, average price not available;
- WMP index up 3.2%, average price US$2,985/MT.
A number of products performed strongly at today’s auction. Leading the way was skimmed milk powder (SMP), which recorded a rise of 8.4% in index. This was followed by a 7.2% increase for the cheddar index.
Whole milk powder (WMP) also performed well, recording a 3.2% boost in index, while anhydrous milk fat noted a 2% rise.
On the flip side, lactose saw a decrease of 2.7% in index today, while the butter index also fell by 1.4%.
Butter milk powder (BMP) was not offered at today’s event, while sweet whey powder (SWP) was once again not available.
Today’s overall index increase of 3.6% comes on the back of four decreases – three of which were relatively small drops – which followed a spike of 8.3% back in July.