GDT index drops slightly for fourth consecutive fall
The Global Dairy Trade (GDT) index has fallen slightly for a fourth consecutive decrease following the conclusion of the latest auction.
The most recent tender – event 267 – concluded this afternoon (Tuesday, September 1), with the GDT Price Index down 1.0%.
Lasting two hours and 41 minutes, 166 bidders went head to head across 19 bidding rounds, with 121 winning bidders emerging.
A total of 35,656MT of product was sold on the day.
- AMF index down 0.5%, average price US$3,852/MT;
- Butter index down 1.2%, average price US$3,334/MT;
- BMP index up 3.9%, average price US$2,356/MT;
- Ched index down 0.4%, average price US$3,428/MT;
- LAC index up 0.8%, average price US$1,314/MT;
- SMP index up 1.8%, average price US$2,663/MT;
- SWP index not available, average price not available;
- WMP index down 2.0%, average price US$2,884/MT.
Interestingly, the most dramatic move on the day was actually an increase, with the butter milk powder (BMP) index up 3.9% on the day. In addition, skimmed milk powder (SMP) increased by 1.8% in index, while lactose (LAC) rose by 0.8%.
On the flip side, whole milk powder (WMP) dropped 2%, while butter also decreased by 1.2%. Anhydrous milk fat (AMF) slipped by 0.5%, with cheddar (Ched) dropping by 0.4%.
Once again, sweet whey powder (SWP) was not available on the day.
Today’s event marks four consecutive decreases in index for GDT; however, this was preceded by a substantial increase in index of 8.3% in July. Bar a drop of 5.1% on August 4, the decreases following this rise have been relatively small.