GDT drops in latest auction
The Global Dairy Trade (GDT) has fallen in its latest dairy auction earlier today, Tuesday, June 4, in what was the largest index change in eight tenders.
Today’s auction – Event 237 – concluded with the GDT Price Index down 3.4%.
Lasting six minutes short of the two-hour mark, today’s event saw 148 participating bidders battle across 13 rounds with 107 winning bidders emerging when the dust had settled.
A total of 19,874MT of product was sold on the day.
- AMF index down 5.7%, average price US$5,752/MT;
- Butter index down 10.3%, average price US$4,805/MT;
- BMP index down 10.1%, average price US$2,807/MT;
- Ched index down 14.0%, average price US$3,950/MT;
- LAC index up 0.4%, average price US$897/MT;
- RenCas index up 4.2%, average price US$7,201/MT;
- SMP index down 4.0%, average price US$2,436/MT;
- SWP index not available, average price not available;
- WMP index down 1.5%, average price US$3,138/MT.
Cheddar, butter and butter milk powder (BMP) were the big losers on the day, with index drops of 14%, 10.3% and 10.1%, respectively.
Anhydrous milk fat (AMF), skimmed milk powder (SMP) and whole milk powder (WMP) also saw index prices drop, with reductions of 5.7%, 4% and 1.5%, respectively.
The only increases at today’s event saw rennet casein increase by 4.2%, while lactose (LAC) also rose a modest 0.4%.
Once again an index for sweet whey powder (SWP) was not available at the latest event.
Today’s event saw a 3.4% move in index; the most dramatic move since February 6, when the index witnessed a 6.7% rise.