GDT drops again in latest auction as powders take a hit

The Global Dairy Trade (GDT) has dropped in index for a fourth fall on the trot following its latest tender yesterday, Tuesday, March 17.

Yesterday’s auction – event 256 – concluded with the GDT Price Index down 3.9%, according to the trading platform.

Lasting two hours and 37 minutes, the event saw 165 bidders go head-to-head across 19 rounds with 116 winning bidders emerging.

A total of 24,209MT of product was sold on the day.

Key results:

AMF index up 1.0%, average price US$4,331/MT;
Butter index up 0.3%, average price US$4,144/MT;
BMP not offered;
Ched index up 2.6%, average price US$4,398/MT;
LAC index up 4.9%, average price US$914/MT;
RenCas index up 1.0%, average price US$9,987/MT;
SMP index down 8.1%, average price US$2,527/MT;
SWP index not available, average price not available;
WMP index down 4.2%, average price US$2,797/MT.

The event marked a bad day in the office for powders on offer – the most dramatic move on the day was for skim milk powder (SMP) which plummeted by 8.1%, while whole milk powder (WMP) dropped by 4.2%.

However, on the flip side, lactose (LAC) saw a rise of 4.9% in index on the day, with index rises also recorded for cheddar (Ched), rennet casein (RenCas) and anhydrous milk fat (AMF) – which saw increases of 2.6%, 1% and 1% respectively.

Butter also saw a marginal rise of 0.3% on the day.

Butter milk powder (BMP) was not offered at yesterday’s event, while sweet whey powder was also once again not available.