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.

Key results:
  • 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.

Source: Global Dairy Trade
Source: Global Dairy Trade

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.