GDT hits 5 increases on the bounce in latest auction
The Global Dairy Trade (GDT) index has hit five consecutive increases following the conclusion of the latest auction earlier today, Tuesday, November 19.
Today’s tender – Event 248 – concluded with the GDT Price Index up 1.7%, according to the trading platform.
Lasting two hours and 26 minutes, today’s auction saw 187 bidders participate across 17 rounds, with 134 winning bidders emerging.
A total of 37,968MT of product was sold on the day.
- AMF index down 1.5%, average price US$5,108/MT;
- Butter index down 1.3%, average price US$4,061/MT;
- BMP not offered;
- Ched index up 2.5%, average price US$3,701/MT;
- LAC index up 1.3%, average price US$775/MT;
- RenCas index up 5.6%, average price US$7,668/MT;
- SMP index up 3.3%, average price US$3,017/MT;
- SWP index not available, average price not available;
- WMP index up 2.2%, average price US$3,321/MT.
Rennet casein (RenCas) was the big winner on the day, with an increase of 5.6% recorded. Skim milk powder (SMP) also preformed strongly, marking a 3.3% increase, while cheddar and whole milk powder (WMP) saw index rises of 2.5% and 2.2% respectively.
On the flip side, anhydrous milk fat (AMF) saw an index drop of 1.5%, while butter also fell by 1.3% in index.
Butter milk powder (BMP) was not offered on the day, while sweet whey powder (SWP) was once again not available.
Today’s event follows on from a 3.7% surge last time out, with slighter rises observed prior to that in recent months.