GDT index increases in latest auction
The latest Global Dairy Trade (GDT) event has concluded with a lift in index – the first lift in three auctions, following a previous slight increase at the start of April.
The latest tender – event 260 – concluded this afternoon, Tuesday, May 19, with the GDT Price Index up 1.0%.
Lasting for two hours and 19 minutes, today’s event saw 172 bidders participate across 17 rounds, with 107 winning bidders emerging.
A total of 16,787MT of product was sold on the day.
- AMF index up 2.7%, average price US$4,079/MT;
- Butter index down 1.9%, average price US$3,803/MT;
- BMP not offered;
- Ched index down 6.0%, average price US$3,864/MT;
- LAC index up 15.6%, average price US$1,341/MT;
- RenCas index down 1.9%, average price US$8,719/MT;
- SMP index up 6.7%, average price US$2,549/MT;
- SWP index not available, average price not available;
- WMP index down 0.5%, average price US$2,677/MT.
The big winner at today’s event was lactose (LAC) which shot up by 15.6% in index, easily the most dramatic move among product indices on the day.
Skim milk powder (SMP) also performed strongly, rising by 6.7% in index; though, on the flip side, cheddar dropped by 6% at the event.
Anhydrous milk fat (AMF) increased by 2.7% in index. However, butter and rennet casein (RenCas) both dropped by 1.9%, while whole milk powder took a slight decrease of 0.5% in index.
Butter milk powder (BMP) was not offered on the day, while sweet whey powder (SWP) was once again not available.
Today’s increase marks two small index rises, and four index drops across the six auctions that have been held since the start of March.