A further increase in the Global Dairy Trade (GDT) price index has been recorded at the latest trading event held today (Tuesday, October 3).
The GDT price index now stands at 953, having increased by 4.4% on the previous event held last month.
A total quantity of 38,350MT has been sold at the 341st event today, with an average price of $3,104/MT.
GDT
Anhydrous milk fat, butter, butter milk powder, cheddar, lactose, skim milk powder (SMP), and whole milk powder (WMP) was sold at the event.
The most significant increase in the price index was recorded for SMP at 6.6% to $2,558/MT, followed by a 4.8% rise to $2,931/MT for WMP.
The price index for anhydrous milk fat rose by 3.7% to $4,979/MT, while the price index for butter and butter milk powder saw an increase also.
Butter was traded at a price index of $4,806/MT, which is 1.3% higher than at the previous event. The butter milk powder price index rose slightly by 0.6% to $2,245/MT.
The price index of cheddar continued to fall at 4.8% to $3,853/MT today. Also recording a decline, the price index of lactose dropped by 1.3% to $594/MT.
A total of 164 bidders participated at today’s trading event, of which 114 were winning bidders across 21 bidding rounds and just under three hours.