After the Global Dairy Trade (GDT) index went unchanged after the auction of October 5, the latest event today (October 19) has seen an index increase of 2.2%.

Event 294 today concluded after 14 bidding rounds, with 117 winning bidders from 177 participating.

The event lasted two hours and 10 minutes. Overall, 27,836MT of product were sold, at an average price of $4,061/MT.

These numbers mean that the GDT index figure is 1,256 as of today, compared to 1,229 at the last event.

Breaking down the results by product, all products (that were offered) recorded increases in their respective sub-indices.

The largest increase was for lactose, which saw an increase of 5.9% to $1,258/MT.

Butter also performed well, seeing an increase of 4.7% to $5,111/MT.

Cheddar increased by 2.9% to $4,426/MT, while anhydrous milk fat (AMF) and skim milk powder (SMP) both recorded increases of 2.5% (to $6,151/MT and $3,401/MT respectively).

Image source: GDT October 19 2021
Data source: GDT

The gains for whole milk powder (WMP) were a little more modest, seeing an increase of 1.5% to $3,803/MT.

Butter milk powder (BMP) was not offered at this event.

The key results are summarised as follows:

  • AMF index up 2.5%, average price $6,151/MT;
  • Butter index up 4.7%, average price $5,111/MT;
  • BMP not offered;
  • Ched index up 2.9%, average price $4,426/MT;
  • Lac index up 5.9%, average price $1,258/MT;
  • SMP index up 2.5%, average price $3,401/MT;
  • WMP index up 1.5%, average price $3,803/MT.