GDT index rises slightly for third consecutive auction
The latest Global Dairy Trade (GDT) auction has seen the international index climb marginally for a third successive time.
Held earlier today, Tuesday, October 15, the GDT’s event 246 concluded with the GDT Price Index up 0.5%.
Lasting two hours and 12 minutes, today’s auction saw 199 bidders go head to head across 14 rounds with 142 winning bidders emerging.
A total of 38,712MT of product was sold on the day.
- AMF index up 0.8%, average price US$5,065/MT;
- Butter index down 0.4%, average price US$4,105/MT;
- BMP not offered;
- Ched index down 2.2%, average price US$3,636/MT;
- LAC index not available, average price US$785/MT;
- RenCas index up 3.6%, average price US$6,916/MT;
- SMP index up 2.4%, average price US$2,743/MT;
- SWP index not available, average price not available;
- WMP index unchanged, average price US$3,133/MT.
The big winner at today’s event was rennet casein (RenCas) which saw a 3.6% surge in index; skim milk powder (SMP) also did well, recording a 2.4% increase. Anhydrous milk fat (AMF) rose slightly by 0.8%.
On the flip side of things, cheddar dropped by 2.2% in index, while butter also dipped marginally by 0.4%
Butter milk powder (BMP) was not offered at today’s auction, while sweet whey powder (SWP) was once again not available.
The latest tender marks a third consecutive rise for the GDT index, following on from three decreases on the trot previously.