GDT index slump continues in latest auction
The Global Dairy Trade (GDT) index slump has continued in its most recent auction, recording another slight decrease in index today, Tuesday, July 2.
Today’s auction, Event 239, concluded with the GDT Price Index down 0.4%.
Lasting a minute over the two-hour mark, today’s tender saw 174 bidders go head-to-head across 14 rounds, with 122 winning bidders emerging.
A total of 24,711MT of product was sold on the day.
- AMF index down 1.9%, average price US$5,433/MT;
- Butter index down 4.8%, average price US$4,339/MT;
- BMP index down 11.9%, average price US$2,500/MT;
- Ched index down 1.5%, average price US$3,756/MT;
- LAC index down 1.1%, average price US$866/MT;
- RenCas index down 3.9%, average price US$7,221/MT;
- SMP index up 3.2%, average price US$2,430/MT;
- SWP index not available, average price not available;
- WMP index unchanged, average price US$2,969/MT.
Butter milk powder (BMP) saw the most dramatic shift in index today, dropping a whopping 11.9% in index.
To a lesser extent, butter and rennet casein (RenCas) also took hefty hits, recording index drops of 4.8% and 3.9% respectively.
On the flip side, skimmed milk powder (SMP) recorded the only increase at today’s event, seeing a 3.2% rise in price index. Whole milk powder (WMP) remained unchanged in index.
Sweet whey powder was once again unavailable at today’s auction.
Today’s result marks the fourth consecutive drop in GDT index, following on from 11 consecutive rises earlier in the year.