GDT hits first dip in 12 auctions
The Global Dairy Trade (GDT) index hit its first decrease in 12 auctions earlier today, Tuesday, May 21, bringing with it the first negative result of 2019.
The latest GDT auction – event 236 – concluded with the GDT Price Index down 1.2% on its previous result.
Lasting two hours and 33 minutes, today’s auction saw 149 bidders compete across 20 rounds with 100 winning bidders emerging.
A total of 15,510MT of product was sold on the day.
- AMF index down 1.4%, average price US$6,140/MT;
- Butter index down 3.2%, average price US$5,297/MT;
- BMP not offered;
- Ched index up 15.2%, average price US$4,851/MT;
- LAC index up 0.6%, average price US$893/MT;
- RenCas index up 5.1%, average price US$6,916/MT;
- SMP index up 0.5%, average price US$2,529/MT;
- SWP index not available, average price not available;
- WMP index down 2.1%, average price US$3,180/MT.
Cheddar was the big winner at today’s event, seeing a 15.2% increase in index, while rennet casein (RenCas) also put in a strong showing, with a rise of 5.1%.
On the flip side, butter saw a 3.2% decrease in index, while whole milk powder (WMP) also dropped by 2.1%. Anhydrous milk fat also fell by 1.4% today.
Butter milk powder (BMP) was not offered on the day, while sweet whey powder (SWP) was once again not available on the day.