A recent brief spell of positive results for the Global Dairy Trade (GDT) price index has come to an end following its latest auction.
Event 317, which was held yesterday (Tuesday, October 4), saw the index record a decrease of 3.5% to 1166.
This follows two successive gains for the dairy commodity tracker in the trading events held last month.
The index climbed by 2% on September 20; this followed a jump of 4.9% after the auction on September 6.
However, the GDT index, which hit a record high in March of 1,593, has been on an overall downward trajectory in recent months.
The average price at yesterday’s auction was $3,911/MT, with 30,852MT of produce sold.
160 bidders took part in 19 rounds of bidding over two hours and 28 minutes, with 125 of those being successful.
All of the dairy commodities offered for sale during the auction posted average price decreases.
Butter had the sharpest fall in price of 7% to €4,983/MT, this followed on from a slight drop in the September 20 auction.
Following notable gains in previous trading events, whole milk powder (WMP) fell by 4% to $3,573/MT.
There was a decrease of 4.4% in the average price of butter milk powder (BMP) to $3,374/MT, while cheddar dropped by 3.8% to $4,966/MT and skim milk powder (SMP) fell by 1.6% to $3,497/MT.
The average price of anhydrous milk fat (AMF), which had seen significant jumps in the past month, dropped 1.7% to €5,811.
Sweet whey powder (SWP) was not sold at the event and no information was offered for lactose.
