Dip in latest GDT means back-to-back drops in February
The Global Dairy Trade (GDT) index has dipped again to record back-to-back decreases in the month of February.
Today’s tender – event 254 – concluded with the GDT Price Index down 2.9%, according to the trading platform.
Lasting two hours and 18 minutes, today’s event saw 175 bidders participate across 18 rounds, with 138 emerging as winning bidders.
A total of 28,181MT of product was sold on the day.
- AMF index down 5.5%, average price US$4,379/MT;
- Butter index down 3.9%, average price US$4,090/MT;
- BMP not offered;
- Ched index up 5.3%, average price US$4,526/MT;
- LAC index not available, average price US$822/MT;
- RenCas index down 0.9%, average price US$9,873/MT;
- SMP index down 2.6%, average price US$2,840/MT;
- SWP index not available, average price not available;
- WMP index down 2.6%, average price US$2,966/MT.
The most dramatic move on the day was for the anhydrous milk fat (AMF) index, which dropped 5.5% in index; butter also fell 3.9% in index, while skimmed milk powder (SMP) and whole milk powder (WMP) both slipped 2.6% in the auction.
Finally, rennet casein (RenCas) also reduced slightly, recording a 0.9% decrease.
However, cheddar was the solitary winner at today’s tender, rising 5.3% in index.
Butter milk powder (BMP) was not offered at the event, while no index was available for either lactose (LAC) or sweet whey powder (SWP).
Today’s results mean that, out of the four auctions so far in 2020, two have seen the overall GDT price index increase, while an equal number have seen it fall. Attention will now turn to the next GDT auction, which will be held on Tuesday, March 3.