The Global Dairy Trade (GDT) index has fallen slightly for a fourth consecutive decrease following the conclusion of the latest auction.

The most recent tender - event 267 - concluded this afternoon (Tuesday, September 1), with the GDT Price Index down 1.0%.

Lasting two hours and 41 minutes, 166 bidders went head to head across 19 bidding rounds, with 121 winning bidders emerging.

A total of 35,656MT of product was sold on the day.

Key results:

Interestingly, the most dramatic move on the day was actually an increase, with the butter milk powder (BMP) index up 3.9% on the day. In addition, skimmed milk powder (SMP) increased by 1.8% in index, while lactose (LAC) rose by 0.8%.

On the flip side, whole milk powder (WMP) dropped 2%, while butter also decreased by 1.2%. Anhydrous milk fat (AMF) slipped by 0.5%, with cheddar (Ched) dropping by 0.4%.

Once again, sweet whey powder (SWP) was not available on the day.

Today's event marks four consecutive decreases in index for GDT; however, this was preceded by a substantial increase in index of 8.3% in July. Bar a drop of 5.1% on August 4, the decreases following this rise have been relatively small.