GDT continues early upward trend for 2018
The latest Global Dairy Trade (GDT) auction, event 204, resulted in an increase of 4.9% in index. All products on offer saw an increase in price on the day.
This follows a slight increase in the previous auction. The first Global Dairy Trade (GDT) auction of 2018, event 203, in New Zealand saw the index price rise by 2.2% on January 2.
Today’s event lasted two hours and five minutes, over 14 bidding rounds. 517 registered bidders were in action on the day, with 129 winning bidders coming out on top.
- AMF index up 2.2%, average price US$6,547/MT;
- Butter index up 8.8%, average price US$4,897/MT;
- BMP not offered;
- Ched index up 5.2%, average price US$3,486/MT;
- LAC index not available, average price US$397/MT;
- RenCas index up 5.5%, average price US$4,709/MT;
- SMP index up 6.5%, average price US$1,818/MT;
- WMP index up 5.1%, average price US$3,010/MT.
Butter saw a substantial increase of 8.8% today, following a slight rise of 0.6% at the last auction. Skim milk powder (SMP) also did well, with a 6.5% boost. Buttermilk powder (BMP) was not offered at today’s event, having suffered a sharp decrease of 7.3% at the previous auction.
Lactose was not available on the day.
Earlier today, Dairygold announced that it would be holding its milk price for December supplies.
It was confirmed that the Dairygold board decided to hold the price the co-operative paid for milk supplied in the month of December at 36c/L including a 0.5c/L quality bonus and VAT.
This means that Kerry suppliers will receive a base milk price of 36c/L including VAT for milk produced in the last month of 2017.
Its decision to hold its milk price follows similar calls made by Glanbia and Lakeland Dairies.