The Global Dairy Trade (GDT) index has fallen by 3.6% following its latest trading event today (Tuesday, April 19).

As a result of event 306, the index now stands at 1,507, down from 1,564 following the auction of April 5. It is the third consecutive drop in the index.

On March 1, 2022, the index hit a record milestone of 1,593; its highest level in a decade.

Image Source: GDT

In total, 155 bidders took part in today’s trading event with 115 winning bidders emerging.

There were 16 rounds of bidding during the event, which lasted for two hours and 19 minutes. 22,179MT of produce was sold, with an average price paid of $4,855.

All of the dairy produce offered for sale today recorded a drop in weighted average price.

Whole milk powder (WMP) price stood at $4,207; this is down by 4.4% on the previous trading event when WMP was $4,532.

Skim milk powder (SMP) dropped by 4.2% to $4,408.

After a jump of 2.7% in price during the last auction, cheddar fell by almost 4% to $6,185.

The price of butter decreased by 3.7% to $6,640, while lactose dropped by 2.4% to $1,565 and anhydrous milk fat (AMF) fell by 1.3% to $6,802.

Butter milk powder (BMP) and sweet whey powder (SWP) were not offered for sale at today’s auction.