The Global Dairy Trade (GDT) index has continued its upwards trend after the latest auction today (Tuesday, November 2), with five of the last six events seeing increases (the exception being October 5, when the index was unchanged).
The latest event – event 295 – saw 113 winning bidders emerge from 184 participating bidders across 19 bidding rounds.
Some 29,915MT of product was sold over the two hour and 55 minute duration of the event, at an average price of $4,207/MT.
With these latest results, the GDT index now stands at 1,310, a 4.3% increase on the 1,256 figure obtained at the last event on October 19.
Breaking down these results by product we can see that cheddar was by far the best performer, seeing a very impressive 14.1% increase in its sub-index, reaching an average price of $5,058/MT.
Skim milk powder (SMP) also put in a strong showing, increasing by 6.6% to $3,627/MT.
Anhydrous milk fat (AMF) and butter were not too far behind, increasing by 4.2% (to $6,384/MT) and 4.7% (to $5,350/MT) respectively.
Whole milk powder (WMP) increased by 2.7% to $3,921/MT, while lactose increased by 1.6% to $1,272/MT.
The only negative to report was a 3.8% slip for butter milk powder (BMP), falling to $3,513/MT.
Below is a summary of the main results:
- AMF index up 4.2%, average price $6,384/MT;
- Butter index up 4.7%, average price $5,350/MT;
- BMP index down 3.8%, average price $3,513/MT;
- Ched index up 14.1%, average price $5,058/MT;
- Lac index up 1.6%, average price $1,272/MT;
- SMP index up 6.6%, average price $3,627/MT;
- WMP index up 2.7%, average price $3,921/MT.