GDT down slightly in latest auction

The latest Global Dairy Trade (GDT) auction, Event 213, concluded with the GDT Price Index down 1.3%.

Lasting two hours and 10 minutes across 15 bidding rounds, a total of 21,580MT of product was sold on the day.

There were 118 winning bidders of a total of 179 bidders.

Once again, sweet whey powder (SWP) was not available on the day.

Key results:
  • AMF index down 1.7%, average price US$6,222/MT;
  • Butter index down 3.5%, average price US$5,581/MT;
  • BMP index up 17.7%, average price US$2,314/MT;
  • Ched index down 3.6%, average price US$3,998/MT;
  • LAC index up 3.9%, average price US$714/MT;
  • RenCas index up 2.7%, average price US$5,015/MT;
  • SMP index up 0.3%, average price US$2,051/MT;
  • SWP index not available, average price not available;
  • WMP index down 1.1%, average price US$3,205/MT.

The most dramatic change in price was seen in Butter Milk Powder (BMP), which jumped by 17.7%.

Source: Global Dairy Trade

New Glanbia chairman appointed

Meanwhile, last Friday (June 1) it was confirmed that Martin Keane has been appointed to succeed Henry Corbally as the group chairman of Glanbia, the global nutrition group, with immediate effect.

Prior to this appointment, Keane – who has served a total of 11 years on the board – held the role of vice-chairman of Glanbia plc since 2010.

He is a director of Ornua Co-operative Ltd and a former president of the Irish Co-operative Organisation Society (ICOS).

As well as this, Patrick Murphy has been appointed to the position of vice-chairman in place of Keane – while John Murphy will continue as a vice-chairman, an announcement from Glanbia explained.

Murphy was appointed to the board in May 2011 and is also a director of Farmer Business Developments plc.

Speaking about his new appointment, Keane said: “I am very pleased to be appointed to serve as group chairman of Glanbia.

I will continue to build on the work of all those who have had the vision to make Glanbia the global nutrition group it is today and to help steer the business through its next phase of growth and development.

“I look forward to working with the board, the executive team and employees to ensure that the organisation continues to deliver on our strategic ambitions for all our shareholders and stakeholders.

“On behalf of the entire Glanbia organisation, I would also like to thank my predecessor Henry Corbally for his leadership and commitment as chairman for the last three years,” he added.