GDT index down once more in latest auction

The Global Dairy Trade (GDT) index has dropped once more in its latest product auction, held earlier today (Tuesday, August 21).

The most recent auction – Event 218 – concluded with the GDT Price Index down 3.6% overall.

Lasting three minutes short of the two-hour mark, 158 bidders participated across 13 rounds with 126 emerging victorious in their bids.

Some 32,041MT of product was sold on the day overall.

Key Results:
  • AMF index down 6.9%, average price US$5,321/MT;
  • Butter index down 8.5%, average price US$4,392/MT;
  • BMP not offered;
  • Ched index down 4.7%, average price US$3,484/MT;
  • LAC index not available, average price US$914/MT;
  • RenCas index up 2.8%, average price US$5,138/MT;
  • SMP index down 1.3%, average price US$1,951/MT;
  • SWP index not available, average price not available;
  • WMP index down 2.1%, average price US$2,883/MT.

The most dramatic moves at the event saw the Butter index tumble, falling by 8.5%, Anhydrous Milk Fat drop 6.9%, while Cheddar also took a hefty 4.7% hit.

Rennet Casein was the only product on the day to experience a lift in index, increasing by 2.8%.

Butter Milk Powder was not offered at this event, while neither Lactose nor Sweet Whey Powder were available.

Source: Global Dairy Trade

With the exception of a brief reprieve at the previous auction – where the overall index remained unchanged – recent events throughout June, July and now August have been negative for the international dairy index.