Global Dairy Trade auction witnesses 3.7% surge
The latest Global Dairy Trade (GDT) auction has seen the international index jump after a fourth successive increase.
The auction was held earlier today, Tuesday, November 5, the GDT’s event 247 concluded with the GDT Price Index up 3.7%.
Lasting two hours and 37 minutes, today’s auction saw 199 participating bidders go head to head across 17 rounds with 139 winning bidders emerging.
A total of 38,681MT of product was sold today.
- AMF index up 2.6%, average price US$5,191/MT;
- Butter index up 0.2%, average price US$4,117/MT;
- BMP index up 5.4%, average price US$2,786/MT;
- Ched index down 0.6%, average price US$3,609/MT;
- LAC index down 1.9%, average price US$768/MT;
- RenCas index up 5.1%, average price US$7,274/MT;
- SMP index up 6.7%, average price US$2,924/MT;
- SWP index not available;
- WMP index up 3.6%, average price US$3,254/MT.
The big winner at today’s event was skim milk powder (SMP) which saw a 6.7% surge in index; butter milk powder (BMP) also did well, recording a 5.4% increase. Anhydrous milk fat (AMF) rose also by 2.6%.
On the flip side of things, cheddar dropped by 0.6% in index, while lactose also dipped by 1.9%.
Sweet whey powder (SWP) was not offered at today’s auction.
The latest tender marks a fourth consecutive rise for the GDT index, following on from three decreases on the trot previously.