Slight rise in latest GDT auction for back-to-back increases

The latest Global Dairy Trade (GDT) auction – Event 245 – concluded with a marginal lift in index today, Tuesday, October 1.

Today’s event concluded with the GDT Price Index up 0.2%, according to the trading platform.

Lasting two hours and 25 minutes, today’s tender saw 184 bidders go head-to-head across 16 rounds, with 131 winning bidders emerging.

A total of 23,716MT of product was sold on the day.

Key results:
  • AMF index unchanged, average price US$4,997/MT;
  • Butter index down 0.2%, average price US$4,125/MT;
  • BMP index up 6.7%, average price US$2,670/MT;
  • Ched index down 3.4%, average price US$3,717/MT;
  • LAC index up 1.8%, average price US$784/MT;
  • RenCas index up 0.7%, average price US$6,683/MT;
  • SMP index up 2.7%, average price US$2,674/MT;
  • SWP index not available, average price not available;
  • WMP index down 0.2%, average price US$3,141/MT.

The big winner at today’s event was butter milk powder, which increased by 6.7% in index – easily the most dramatic move in index at the tender.

Skimmed milk powder (SMP) also rose well, increasing by 2.7%, while lactose lifted by 1.8% in index.

On the flip side, cheddar fell by 3.4% in index, while there were index decreases too for butter and whole milk powder, which both dropped by 0.2%.

Anhydrous milk fat remained unchanged, while once again sweet whey powder (SWP) was not available.

Source: Global Dairy Trade

The latest event means back-to-back increases for the overall index, following a 2% increase last time out; this comes in the wake of three consecutive drops prior to that.