Latest GDT concludes with marginal rise in index
The latest Global Dairy Trade (GDT) event finished with a marginal rise in index, building on a previous slight increase on the last day out in May.
The latest tender – event 261 – concluded this afternoon, Tuesday, June 2, with the GDT Price Index up 0.1%.
Lasting for two hours and 32 minutes, today’s event saw 166 bidders participate across 19 bidding rounds with 117 winning bidders emerging.
A total of 21,968MT of product was sold on the day.
- AMF index down 2.9%, average price US$3,960/MT;
- Butter index down 4.4%, average price US$3,631/MT;
- BMP index up 9.4%, average price US$2,344/MT;
- Ched index down 5.3%, average price US$3,520/MT;
- LAC index down 4.1%, average price US$1,279/MT;
- SMP index down 0.5%, average price US$2,530/MT;
- SWP index not available, average price not available;
- WMP index up 2.1%, average price US$2,761/MT.
The butter milk powder (BMP) index was the big winner on the day, with a boost of 9.4% recorded at the event. Whole milk powder also performed strongly, recording a 2.1% rise in index.
On the flip side, cheddar dropped by 5.3% in index, while the butter and lactose indices fell by 4.4% and 4.1% respectively.
Anhydrous milk fat (AMF) reduced by 2.9% in index, while skim milk powder saw a slight drop of 0.5%.
Once again, sweet whey powder (SWP) was not available on the day.
Today’s event marks back-to-back marginal rises for the GDT, following on from a difficult spring, which saw six reductions out of the previous seven tenders.