A total of 26,033t of skimmed milk powder (SMP) have been sold from intervention in the most recent tendering this week.

The product was sold at €1,231/t at the tender for sale on Tuesday last (October 16).

The volume sold was described as “encouraging” by industry representatives, considering the last tender was two weeks ago and that recent prices have been under pressure.

This brings the total amount of intervention SMP sold to date up to approximately 170,000t.

For this individual invitation to tender for the buying-in of SMP (tendering procedure under Regulation (EU) 2018/154), no maximum buying-in price was fixed and no stock was bought in.

Fifth Consecutive Drop For GDT

Meanwhile, in New Zealand on Tuesday (October 16), the Global Dairy Trade (GDT) Price Index dropped for the fifth consecutive time, falling by 0.3% at the latest GDT auction – event 222.

Lasting for almost two hours and 20 minutes, there was a total of 137 winning bidders across 15 bidding rounds in the latest auction.

In the previous auction at the beginning of this month, the GDT Price Index decreased by 1.9%. Prior to that, the index has fallen since the auction on Tuesday, August 7 – when the index remained static.

One would have to go as far back as Tuesday, May 15, to see when the GDT Price Index last recorded an increase.