Latest GDT auction marks 4 index increases on the trot
The Global Dairy Trade (GDT) index has posted a strong increase in the first auction of 2021 to mark four increases on the trot in recent outings.
The most recent tender – event 275 – concluded today (Tuesday, January 5) with the GDT Price Index up 3.9%.
Lasting two hours and 38 minutes, today’s auction saw 178 bidders participate across 19 rounds, with 110 winning bidders emerging.
A total of 30,313MT of product was sold on the day.
- AMF index up 5.5%, average price US$4,604/MT;
- Butter index up 7.2%, average price US$4,526/MT;
- BMP index up 6.9%, average price US$2,876/MT;
- Ched index up 5.0%, average price US$4,078/MT;
- LAC index up 7.4%, average price US$1,099/MT;
- SMP index up 4.1%, average price US$3,044/MT;
- SWP not offered;
- WMP index up 3.1%, average price US$3,306/MT.
Once again, today’s event saw increases across the board of products offered, with lactose (LAC) and butter performing particularly strongly with index rises of 7.4% and 7.2% respectively.
Butter milk powder (BMP) also did well, with an index boost of 6.9%, while increases were also recorded for anhydrous milk fat (AMF), cheddar, skim milk powder (SMP) and whole milk powder (WMP) – notching up index rises of 5.5%, 5%, 4.1% and 3.1% respectively.
Once again, sweet whey powder (SWP) was not offered at today’s event.
This latest auction marks seven overall GDT index increases across the last eight events.