Recent downturn for GDT continues with largest fall this year
The recent downturn for the Global Dairy Trade (GDT) index has continued in its latest auction earlier today, Tuesday, June 18, in what is the index’s most dramatic fall this year.
Today’s tender – Event 238 – concluded with the GDT Price Index down 3.8%.
Lasting one hour and 51 minutes, today’s auction saw 166 bidders participate across 13 rounds with 118 winning participants.
A total of 24,239MT was sold on the day.
- AMF index down 3.3%, average price US$5,530/MT;
- Butter index down 5.7%, average price US$4,553/MT;
- BMP not offered;
- Ched index down 4.3%, average price US$3,781/MT;
- LAC index down 2.2%, average price US$875/MT;
- RenCas index up 2.3%, average price US$7,494/MT;
- SMP index down 3.5%, average price US$2,358/MT;
- SWP index not available, average price not available;
- WMP index down 4.3%, average price US$3,006/MT.
Butter saw the most dramatic shift on the day, dropping by 5.7% in index. In addition, both cheddar and whole milk powder recorded reductions of 4.3% at the event.
Rennet Casein (RenCas) was the only product to document an increase in price, rising by 2.3%.
Butter milk powder (BMP) was not offered today, while an index for sweet whey powder (SWP) was once again not available.
At a price index of 997, dropping from the previous index of 1,037, the index has dropped below the 1,000 mark for the first time since the January 15 index, when it was 942.
The current index is still considerably higher than the figures recorded in November, when it dropped to 846.