6 index drops on the bounce following latest GDT auction
The Global Dairy Trade (GDT) Price Index has continued its downward slide with another drop in index today – marking six decreases on the hop.
The latest auction, event 223, concluded with the GDT Price Index down 2.0% earlier today (Tuesday, November 6).
Lasting two minutes over the three-hour mark, a total of 142 winning bids were placed across 18 rounds from the 173 bidders who participated in today’s event.
A total of 42,412MT were sold at today’s auction.
- AMF index down 1.3%, average price US$5,044/MT;
- Butter index down 1.7%, average price US$4,045/MT;
- BMP index up 0.8%, average price US$2,568/MT;
- Ched index down 4.6%, average price US$3,250/MT;
- LAC index down 2.7%, average price US$902/MT;
- RenCas index down 2.9%, average price US$5,327/MT;
- SMP index up 1.2%, average price US$1,997/MT;
- SWP index not available, average price not available;
- WMP index down 2.9%, average price US$2,655/MT.
The big mover at today’s event was cheddar, which dropped by 4.6% in index; this was followed by lactose, which saw a 2.7% decrease.
There were two products which saw slight increases however, with skim milk powder (SMP) and butter milk powder (BMP).
Once again, the average price for sweet whey powder (SWP) was not available on the day.
Today’s result marks the sixth consecutive drop in index, while one would have to go all the way back to May 15 to see the last increase in GDT.