The latest Global Dairy Trade (GDT) auction has concluded with a hefty drop to the overall index, following a brief respite at the last outing earlier this month.
The most recent – event 258 – concluded today, Tuesday, April 21, with the GDT Price Index down 4.2%.
Lasting two hours and 17 minutes, today’s auction saw 153 participating bidders go head to head across 16 bidding rounds with 113 winning bidders emerging.
A total of 20,601MT of product was sold on the day.
Key results:
- AMF index down 7.0%, average price US$4,083/MT;
- Butter index down 3.6%, average price US$4,117/MT;
- BMP not offered;
- Ched index up 1.9%, average price US$4,480/MT;
- LAC index up 12.0%, average price US$1,078/MT;
- RenCas index down 3.0%, average price US$9,409/MT;
- SMP index down 4.9%, average price US$2,380/MT;
- SWP not offered; and
- WMP index down 3.9%, average price US$2,707/MT.
The most dramatic move on the day was actually an increase of 12% for the lactose (LAC) index, with cheddar also seeing a slight lift of 1.9% in index.
All other products tendered on the day recorded decreases however, led by anhydrous milk fat, which was down 7%, with skim milk powder and whole milk powder documenting drops of 4.9% and 3.9% respectively.
Butter and rennet casein were also hit with index reductions on the day, recording drops of 3.6% and 3% respectively.
Source: Global Dairy Trade
Butter milk powder (BMP) was not offered at this event, while once again sweet whey powder was also absent.
Today’s event marks a fifth index reduction in six outings, following a slight increase at the previous auction on April 7. There have been eight auctions so far this year, with two consecutive increases recorded in January.
