GDT sees slight drop in latest June index

The latest Global Dairy Trade auction – Event 214 – concluded with the GDT Price Index down 1.2% in a slight drop compared to the previous event.

Lasting a single minute over the two-hour mark, 165 bidders participated across 14 rounds with 127 winning bidders emerging.

A total of 21,634MT of product was sold at the event. In a continuing trend sweet whey powder was not available on the day, but in addition, butter milk powder (BMP) was not offered at this event, following its dramatic increase of 17.7% in index at the last event.

Key Results:
  • AMF index down 2.5%, average price US$6,060/MT;
  • Butter index up 0.8%, average price US$5,611/MT;
  • BMP not offered;
  • Ched index down 3.6%, average price US$3,847/MT;
  • LAC index up 8.2%, average price US$769/MT;
  • RenCas index down 2.2%, average price US$4,898/MT;
  • SMP index down 1.1%, average price US$2,003/MT;
  • SWP index not available, average price not available;
  • WMP index down 1.0%, average price US$3,189/MT.

Today’s most notable shaker and mover was the lactose index (LAC), which experienced a sizable 8.2% increase.

Source: Global Dairy Trade

Most other products on offer at this auction were down in index, however, apart from butter which saw a slight rise of 0.8%.

Milk protein levels fall

Meanwhile, a combination of the grass plant’s annual reproductive phase, strong growth in some quarters and farmers opting to graze heavy covers has seen milk protein percentages dip on many farms.

The big three in Irish dairying – Glanbia, Kerry and Dairygold – have all noted protein declines over recent weeks, which range from 0.04% up to 0.09%.

During week 21 (week ending May 27), milk collected in the Kerry catchment had an average milk protein percentage of 3.36%. This dropped to 3.27% during the week ending June 10.

Meanwhile, milk proteins in the Dairygold catchment have been back on 2017 levels since week 11. Over the past six weeks, the co-op’s protein percentages are back by 0.04%; the biggest drop (0.08%) was experienced last week.

Moving east, Glanbia’s weekly average protein percentage stood at 3.37% during the week ending June 10 – down from 3.41% during the week ending June 3.