The most recent Global Dairy Trade (GDT) auction – Event 216 – concluded earlier today (Tuesday, July 17) with the GDT Price Index down a further 1.7%.
This follows a nosedive at the last event two weeks ago, which saw the index take a 5.0% drop.
Lasting two hours and five minutes, the auction saw 168 bidders compete across 15 rounds, with 126 winning participants.
A total of 25,454MT was sold on the day.
- AMF index down 5.2%, average price US$5,629/MT;
- Butter index down 8.1%, average price US$4,953/MT;
- BMP index not available, average price US$2,225/MT;
- Ched index down 3.3%, average price US$3,596/MT;
- LAC index not available, average price not available;
- RenCas index down 9.5%, average price US$4,602/MT;
- SMP index up 0.8%, average price US$1,959/MT;
- SWP index not available, average price not available;
- WMP index up 1.5%, average price US$2,973/MT.
Rennet Casein saw the most significant shift on the day, sustaining a 9.5% decrease, while Butter also took a hefty 8.1% hit.
Anhydrous Milk Fat (AMF) got stung with a considerable 5.2% drop. Product index increases were minimal on the day, with Whole Milk Powder (WMP) up 1.5% and Skim Milk Powder up 0.8%.
Lactose (LAC) was not available on the day, while Sweet Whey Powder (SWP) was also unattainable.
Source: Global Dairy Trade
Dairygold announces June milk price
Meanwhile, earlier today, Dairygold’s board decided to maintain the base price paid for milk supplied in June at 32c/L inclusive of 0.5c/L quality bonus and VAT, based on standard constituents of 3.3% protein and 3.6% butterfat.
This hold on May’s price follows a 1c/L increase on the co-op’s April payout to suppliers.