GDT index plummets in latest auction
The Global Dairy Trade (GDT) index has plummeted following the conclusion of the latest auction, to mark back-to-back drops.
The most recent tender – event 265 – concluded this afternoon, Tuesday, August 4, with the GDT Price Index down 5.1%.
Lasting two hours and 29 minutes, today’s event saw 164 bidders participate across 19 rounds with 132 winning bidders recorded.
A total of 32,696MT of product was sold on the day.
- AMF index up 3.0%, average price US$3,994/MT;
- Butter index down 2.8%, average price US$3,438/MT;
- BMP index down 6.5%, average price US$2,259/MT;
- Ched index down 5.3%, average price US$3,568/MT;
- LAC index up 5.7%, average price US$1,349/MT;
- SMP index down 4.6%, average price US$2,583/MT;
- SWP index not available, average price not available;
- WMP index down 7.5%, average price US$3,003/MT.
Powders across the board had a tough day at the office, with whole milk powder (WMP) seeing the most dramatic move – a 7.5% drop in index.
Butter milk powder (BMP) decreased by 6.5% in index, while the skimmed milk powder (SMP) index recorded a 4.6% slump. Cheddar (Ched) too marked a decrease of 5.3% in index, while the butter index slipped down 2.8%.
Lactose (LAC) rose by 5.7% on the day, while anhydrous milk fat (AMF) saw a 3% increase in index also.
Once again, sweet why powder (SWP) was not available on the day.
Today’s event marks back-to-back decreases following a marginal drop in the overall GDT index on the last outing; however, this had been preceded by four index consecutive increases including an 8.3% lift last month.