The Global Dairy Trade (GDT) price index has increased by 1.2% at the first trading event in 2024 held today (Tuesday, January 2).
The index now stands at 1,038 after a third consecutive increase. Today’s GDT follows a 2.3% increase to 1,025 at the final trading event of 2023.
A total quantity of 26,206MT was sold at the 347th trading event today at an average price of $3,363/MT.
Anhydrous milk fat, butter, butter milk powder, cheddar, lactose, mozzarella, skim milk powder (SMP), and whole milk powder (WMP) were offered at the event.
GDT
The price index of WMP increased by 2.5% at today’s event and now stands at $3,290/MT. Prices for butter and anhydrous milk fat also went up.
Recording a 2.1% rise, the price index of butter increased to $5,514/MT, followed by anhydrous milk fat which rose slightly by 0.2% to $5,595/MT.
The most significant decline in the price index was recorded for lactose which fell by 5.0% to $753/MT. Butter milk powder, cheddar and SMP prices all dropped also.
The price index for butter milk powder fell slightly by 0.1% to $2,384/MT, while the price index of cheddar dropped by 2.4% to $4,165/MT at the event.
Following today’s event, the price index of SMP now stands at $2,613/MT, down 0.9%. The price index of mozzarella remained the same at $3,960/MT.
The event saw 152 participating bidders of which 115 were winning bidders across 20 bidding rounds and two hours and 36 minutes.