Marginal increase sees GDT strike 9 consecutive rises
The Global Dairy Trade (GDT) index has made nine consecutive rises in recent months, following the conclusion of its most recent auction.
The latest tender – event 233 – concluded earlier today, Tuesday, April 2, with the GDT price index up 0.8%.
Lasting two hours and 26 minutes, today’s auction saw 166 bidders participate across 15 rounds, with some 109 landing successful bids.
A total of 17,854MT of product was sold at today’s event.
- AMF index up 3.7%, average price US$5,867/MT;
- Butter index up 5.8%, average price US$5,374/MT;
- BMP index up 5.0%, average price US$3,548/MT;
- Ched index up 3.2%, average price US$4,248/MT;
- LAC index down 5.3%, average price US$948/MT;
- RenCas index up 7.5%, average price US$6,703/MT;
- SMP index up 1.8%, average price US$2,468/MT;
- SWP index not available, average price not available;
- WMP index down 1.3%, average price US$3,287/MT.
Rennet Casein (RenCas) and butter, similar to the last event, saw the highest increases in index on the day, with rises of 7.5% and 5.8% respectively driving today’s positive figures.
Butter milk powder (BMP), anhydrous milk fat (AMF) and cheddar (Ched) also performed strongly, with increases of 5.0%, 3.7% and 3.2% respectively.
Countering this to some extent, however, was lactose (LAC) which dropped 5.3% in index.
Once again, an index for sweet whey powder (SWP) was not available at today’s auction.