The Global Dairy Trade (GDT) Index is continuing to tick-over after the latest auction event today (Tuesday, December 7).

The latest event saw a slight increase in average price of 1.4%, up to $4,290/MT. In total, 31,092MT were sold, across 17 bidding rounds over the course of two hours and 25 minutes.

There were 104 winning bidders out of 167 participating.

With these results, the latest index figure stands at 1,354, an increase from 1,335 at the last event.

Looking at the various sub-indices, increases were recorded across the board for all products that were on offer.

Butter put in the strongest showing, increasing by 4.6% to an average price of $5,791/MT.

Lactose also performed reasonably well, increasing by 3.5% to $1,339/MT.

Anhydrous Milk Fat (AMF) recorded an increase in sub-index of 3% to $6,668. Butter Milk Powder (BMP) was just behind at 2.9%, rising to $3,620/MT.

Skim Milk Powder (SMP), cheddar and whole milk powder (WMP) recorded more modest gains, increasing by 1.3%,1% and 0.6% respectively (to $3,721/MT, $5,220/MT and $4,008/MT respectively).

These results are summarised in the table below:

  • AMF index up 3%, average price $6,668/MT;
  • Butter index up 4.6%, average price $5,791/MT;
  • BMP index up 2.9%, average price $3,620/MT;
  • Cheddar index up 1%, average price $5,220/MT;
  • Lactose index up 3.5%, average price $1,339/MT;
  • SMP index up 1.3%, average price $3,721;
  • WMP index up 0.6%, average price $4,008.

With the results today, the GDT Index has seen four increases on the bounce and there hasn’t been a negative index figure since August 3 (the index on October 5, was unchanged).

The Global Dairy Trade Index results follow on from the release of the Ornua Purchase Price Index (PPI) for the month of November last week.

Ornua’s PPI for last month is 131.9. This converts to 40.3c/L inclusive of VAT, based on Ornua’s product purchase mix and assumed member processing costs of 7c/L, and excluding member margin.

According to Ornua, the increase is as a result of continued stronger returns across the product range.