Fifth consecutive rise in GDT in latest auction
The latest Global Dairy Trade (GDT) auction ended on a high today with a substantial gain in overall index.
Today’s tendering – event 229 – concluded with the GDT Price Index up 6.7% overall, marking the fifth successive rise following a difficult latter half to 2018.
Lasting for two hours and 17 minutes, the event saw 177 participating bidders face off across 15 rounds with 106 winning bidders emerging.
A total of 23,326MT of product was sold on the day.
- AMF index up 5.8%, average price US$5,579/MT;
- Butter index up 4.2%, average price US$4,445/MT;
- BMP index down 3.1%, average price US$3,158/MT;
- Ched index up 1.4%, average price US$3,565/MT;
- LAC index up 1.3%, average price US$1,035/MT;
- RenCas index up 10.9%, average price US$5,596/MT;
- SMP index up 3.9%, average price US$2,534/MT;
- SWP index not available, average price not available;
- WMP index up 8.4%, average price US$3,027/MT.
Rennet Casein saw the most significant rise on the day with a considerable 10.9% rise in index, while whole milk powder also fared strongly, recording an 8.4% boost.
Conversely butter milk powder (BMP) saw a slight drop in index, falling by 3.1% – the only negative return on the day.
Other products saw moderate gains at today’s auction.
Sweet whey powder (SWP) was once again not available at today’s event.
Today’s index increase saw the price index calculation reach its highest level since June 2018 – some eight months ago.