Improved latest index halts recent GDT slump
The latest Global Dairy Trade (GDT) auction has brought to a halt a recent slump, with the news of a slight increase in index today, Tuesday, July 16.
Today’s tender – Event 240 – concluded with the GDT Price Index up 2.7%.
Lasting two hours and three minutes, today’s auction saw 174 bidders compete across 13 rounds with 116 landing winning bids.
A total of 25,000MT of product was sold on the day.
- AMF index up 1.7%, average price US$5,523/MT;
- Butter index up 1.7%, average price US$4,406/MT;
- BMP not offered;
- Ched index up 3.3%, average price US$3,869/MT;
- LAC index not available, average price not available;
- RenCas index down 3.4%, average price US$7,044/MT;
- SMP index up 3.8%, average price US$2,505/MT;
- SWP index not available, average price not available;
- WMP index up 3.6%, average price US$3,074/MT.
Skimmed milk powder (SMP) and whole milk powder (WMP) saw the largest increases in index on the day, recording rises of 3.8% and 3.6% respectively.
Cheddar also performed strongly, noting a 3.3% increase, while anhydrous milk fat (AMF) and butter saw an index boost of 1.7% each.
On the flip side, rennet casein (RenCas) fell by 3.4% on the day.
Butter milk powder (BMP) was not offered today, while neither lactose nor sweet whey powder (SWP) indexes were available.
Today’s overall index rise brings to an end a total of four consecutive index falls; this was preceded by a run of 11 increases on the trot.