The Global Dairy Trade (GDT) price index has declined by 1% to 959 at the latest trading event today (Tuesday, July 18).
On average, bidders paid $3,289/MT for products offered at the 336th event, which saw a total of 25,956MT being sold.
This drop follows a 3.3% decrease in the price index at the previous event where 24,837MT of product was sold at an average price of $3,334/MT.
GDT price index
Available data shows that of products offered, only anhydrous milk fat (AMF) saw an increase in the price index. At $4,745/MT, the index for AMF rose by 3.4%.
The most significant decrease was recorded in the price index for cheddar, which dropped by 10.1% to $3,955/MT.
The price indices for butter, skim milk powder (SMP), and whole milk powder (WMP) also declined at the latest GDT auction.
At $4,705/MT, the butter price index is now 2.7% lower than at the previous event on July 4. The price index of SMP fell by 0.6% to $2,503/MT, while WMP dropped by 1.5% to $3,100/MT.
The price index for butter milk powder was not available, while lactose was not offered at today’s GDT event.
In total, 148 bidders participated in the event of which 118 were winning bidders, across 14 bidding rounds at the latest trading event which took two hours.
