GDT recovers in first dairy auction of 2018
The first Global Dairy Trade (GDT) auction of 2018 in New Zealand has seen the index price rise by 2.2%. The auction, event 203, saw a largely mixed result for the different products on offer.
The increase in index follows the previous event’s severe drop in index, which had left the GDT at the lowest it had been since October 2016.
Lasting two hours and eight minutes, today’s auction saw 112 winning bidders out of 516 registered to bid over 16 rounds.
- AMF index down 0.2%, average price US$6,405/MT;
- Butter index up 0.6%, average price US$4,501/MT;
- BMP index down 7.3%, average price US$1,866/MT;
- Ched index down 2.1%, average price US$3,317/MT;
- LAC index not available, average price not available;
- RenCas index down 1.1%, average price US$4,419/MT;
- SMP index up 1.6%, average price US$1,699/MT;
- WMP index up 4.2%, average price US$2,886/MT.
The most dramatic change in price today saw butter milk powder (BMP) take a sharp decrease by 7.3%, having not been on offer at the previous event; whole milk powder (WMP) on the other hand rose by 4.2%. Lactose was not offered on the day.
New Dairy UK technical training scheme
In other dairy-related news, Dairy UK and the College of Agriculture, Food and Rural Enterprise, (CAFRE) have joined forces to develop a technical training programme which aims to help dairy farmers improve profitability.
The training will take the form of a series of meetings and will aim to provide working dairy farmers with the latest advice on best practice.
CAFRE director Martin McKendry said: “We have been aware for some time that many dairy farmers not in a Business Development Group would like to have the opportunity for technical information and training.
This initiative allows CAFRE, in conjunction with dairy companies, to provide additional support to dairy farmers.
“CAFRE will work with the dairy companies to develop a programme of meetings and decision support tools for their farmers,” the director said.