A small amount of skimmed milk powder (SMP) amounting to just 33.42t was sold from European intervention stocks on the continent in the most recent tender, according to Dairy Industry Ireland (DII) sources.
In the latest sale today, Wednesday, April 17, the powder sold for €1,660/t.
Today’s tender results were given a day early because of Easter holidays in the European Commission.
The latest sale marks the most recent efforts to shift the remaining intervention stocks of SMP, with product now down to approximately 1,350t left.
GDT hits 10 increases on the bounce
Meanwhile, on a more global scale, yesterday saw the Global Dairy Trade (GDT) increase its rising trend to 10 consecutive increases following a marginal rise in its latest auction.
Lasting two hours and eight minutes, yesterday’s tender – event 234 – saw 155 bidders contest across 15 rounds, with 94 landing successful bids – with the end result seeing the overall price index rise by 0.5%.
A total of 16,166MT of product was sold at the event.
Key results:
- AMF index up 4.2%, average price US$6,126/MT;
- Butter index up 3.5%, average price US$5,544/MT;
- BMP not offered;
- Ched index up 1.4%, average price US$4,319/MT;
- LAC index down 3.4%, average price US$912/MT;
- RenCas index down 2.4%, average price US$6,460/MT;
- SMP index up 0.2%, average price US$2,462/MT;
- SWP index not available, average price not available;
- WMP index down 0.7%, average price US$3,269/MT.
Among the big movers and shakers on the day, anhydrous milk fat (AMF) rose by 4.2% in index; butter also performed strongly, seeing a 3.5% index boost, with cheddar also seeing a slight increase of 1.4%.
On the flip side, lactose (LAC) fell by 3.4% in index, with rennet casein (RenCas) and whole milk powder (WMP) also experiencing drops of 2.4% and 0.7% respectively.
