GDT kicks off 2019 with a boost with 3rd consecutive rise
The latest Global Dairy Trade (GDT) auction – event 227 – has kicked off the new year with a boost, having concluded with the GDT Price Index up 2.8%.
The event lasted a minute short of two and a half hours with 167 participating bidders bidding across 15 rounds.
A total of 115 winning bidders emerged from the auction, with a total quantity sold of 28,651MT.
- AMF index up 3.9%, average price US$5,137/MT;
- Butter index up 3.9%, average price US$4,076/MT;
- BMP index up 9.3%, average price US$3,252/MT;
- Ched index up 3.2%, average price US$3,371/MT;
- LAC index up 1.6%, average price US$948/MT;
- RenCas index up 1.3%, average price US$5,123/MT;
- SMP index up 7.9%, average price US$2,201/MT;
- SWP index not available, average price not available;
- WMP index up 1.2%, average price US$2,705/MT.
All products on offer at today’s event recorded an increase in price index, with butter milk powder (BMP) recording the most dramatic rise on the day – up some 9.3%.
Skimmed milk powder (SMP) also witnessed a considerable rise, up 7.9% on the day, with anhydrous milk fat (AMF) and butter also rising almost 4% in index.
Once again sweet whey powder was not available at today’s auction.
Today’s event marks a third consecutive rise in the GDT price index, following on from seven price drops on the trot in what was an austere second half to 2018 overall.