The Global Dairy Trade (GDT) index is after taking a tumble of more than 5% to record back-to-back drops following its latest auction – and last event of the year – today, Tuesday, December 17.

Today’s tender – Event 250 – concluded with the GDT Price Index down 5.1%, according to the trading platform.

Lasting two hours and 26 minutes, the event saw 190 bidders participate across 18 bidding rounds, with 142 winning bidders emerging.

A total of 35,748MT of product was sold on the day.

Milk powders took heavy hits at today’s auction, with both skim milk powder (SMP) and whole milk powder (WMP) recording sharp drops of 6.3% and 6.7% respectively.

Butter, meanwhile, saw a drop of 2.4%, with anhydrous milk fat (AMF) also recording a slight 0.3% reduction in index.

On a more positive note, rennet casein (RenCas) rose by 2.6%, with cheddar and lactose also seeing slight increases of 1.7% and 0.6% respectively.

Butter milk powder (BMP) was not offered on the day, while sweet whey powder (SWP) was once again not available.

As can be seen in the graph above, today’s 5% drop is the most dramatic change in index since at least the end of June.