GDT index sees slight increase in latest auction
The latest Global Dairy Trade (GDT) auction has concluded with a slight lift for the GDT index overall, marking the first increase in five events.
The most recent – event 257 – concluded today, Tuesday, April 7, with the GDT Price Index up 1.2%.
Lasting two hours and 31 minutes, the auction saw 160 bidders go head to head over 20 bidding rounds with 107 winning bidders emerging.
A total of 20,302MT of product was sold on the day.
- AMF index up 0.4%, average price US$4,345/MT;
- Butter index up 4.5%, average price US$4,263/MT;
- BMP index down 11.9%, average price US$2,446/MT;
- Ched index up 0.2%, average price US$4,395/MT;
- LAC index up 4.4%, average price US$959/MT;
- RenCas index down 2.6%, average price US$9,717/MT;
- SMP index down 0.8%, average price US$2,514/MT;
- SWP index not available, average price not available;
- WMP index up 2.1%, average price US$2,820/MT.
The most dramatic move on the day was for butter milk powder (BMP) which saw a drastic decrease of 11.9%.
Rennet casein dropped by 2.6% in index, while the skimmed milk powder (SMP) index saw a dip of 0.8.
However, on the flip side, it was a good day at the office for butter, which increased by 4.5% in index, and lactose, with a rise of 4.4%.
Whole milk powder received a boost of 2.1% while there were modest index gains too for anhydrous milk fat (AMF), up 0.4%, and cheddar.
Once again, an index for sweet whey powder was not available.
Today’s event marks just the third increase recorded in the GDT index in 2020, following index cuts in February and March.