GDT index tumbles in third auction of 2020

The Global Dairy Trade (GDT) index has taken a tumble in the third auction of 2020, which is its first decrease this year.

Today’s tender – event 253 – concluded with the GDT Price Index down 4.7%, according to the trading platform.

Lasting one hour and 49 minutes, today’s event saw 185 bidders participate across 12 rounds, with 138 winning bidders emerging.

A total of 29,006MT of product was sold on the day.

Key results:
  • AMF index down 4.5%, average price US$4,626/MT;
  • Butter index up 0.2%, average price US$4,258/MT;
  • BMP index down 5.2%, average price US$2,886/MT;
  • Ched index up 6.0%, average price US$4,302/MT;
  • LAC index up 2.5%, average price US$830/MT;
  • RenCas index up 6.0%, average price US$9,956/MT;
  • SMP index down 4.2%, average price US$2,907/MT;
  • SWP index not available, average price not available; and
  • WMP index down 6.2%, average price US$3,039/MT.

Interestingly, some of the more dramatic moves at today’s event were actually increases, with both cheddar and rennet casein (RenCas) recording index boosts of 6%.

However, the biggest change on the day was to the whole milk powder (WMP), which tumbled by 6.2%.

In addition, butter milk powder (BMP) fell by 5.2%, anhydrous milk fat (AMF) slipped by 4.5% and skim milk powder (SMP) decreased by 4.2%.

Lactose (LAC) rose by 2.5% while the butter index also saw a marginal increase of 0.2% in what was a mixed day for trading among products.

Image source GDT
Source: Global Dairy Trade

Once again, sweet whey powder (SWP) was not available at today’s event.