GDT index lifts in latest auction for back-to-back increases

The Global Dairy Trade (GDT) index has lifted in its latest auction to record back-to-back increases.

The most recent auction – event 269 – concluded this afternoon (Tuesday, October 6) with the GDT Price Index up 2.2%.

Lasting two hours and 34 minutes, today’s event saw 190 participating bidders take part. Following 17 bidding rounds, 135 winning bidders emerged.

A total of 35,090MT of product was sold on the day.

Key results:
  • AMF index up 5.4%, average price US$4,131/MT;
  • Butter index up 8.4%, average price US$3,561/MT;
  • BMP index up 9.1%, average price US$2,569/MT;
  • Ched index up 0.4%, average price US$3,694/MT;
  • LAC index down 7.4%, average price US$1,182/MT;
  • SMP index down 0.9%, average price US$2,865/MT;
  • SWP index not available, average price not available;
  • WMP index up 1.7%, average price US$3,041/MT.

Butter milk powder (BMP) was the product which saw the most dramatic move on the day – increasing 9.1% in index.

This was closely followed by butter, which saw an 8.4% boost in index. Anhydrous milk fat (AMF) also performed strongly, with a 5.4% rise in index.

Whole milk powder lifted by 1.7% in index, while the cheddar (Ched) index also recorded a slight rise of 0.4%.

On the flip side, lactose (LAC) dropped by 7.4% in index, while skim milk powder (SMP) saw a small drop of 0.9% in index.

Once again, sweet whey powder (SWP) was not available on the day.

Source: Global Dairy Trade
Source: Global Dairy Trade

Today’s event marks back-to-back increases following four consecutive decreases in recent months. Of these, three were relatively small drops – which followed a spike of 8.3% back in July.