Recent trend continues as GDT records latest index rise
The recent trend of positive index results has continued for the Global Dairy Trade (GDT) as its most recent auction returned an eighth consecutive boost in price index.
The latest tender – event 232 – concluded earlier today (Tuesday, March 19) with the GDT price index up 1.9%.
Lasting a minute short of the two-hour mark, today’s auction saw 174 bidders compete across 14 rounds with 112 landing winning bids.
A total of 21,713MT of product was sold at today’s event.
- AMF index down 3.1%, average price US$5,662/MT;
- Butter index up 9.3%, average price US$5,089/MT;
- BMP not offered;
- Ched index up 3.9%, average price US$4,036/MT;
- LAC index down 1.0%, average price US$1,000/MT;
- RenCas index up 9.7%, average price US$6,190/MT;
- SMP index down 2.4%, average price US$2,405/MT;
- SWP index not available, average price not available;
- WMP index up 4.0%, average price US$3,317/MT.
Rennet Casein (RenCas) and butter were the big winners at the event, with index increases of 9.7% and 9.3% respectively, recording rising returns.
Meanwhile, whole milk powder (WMP) and cheddar (Ched) also performed strongly, with index boosts of 4% and 3.9% respectively.
On the flip side, anhydrous milk fat (AMF) saw an index drop of 3.1%, while skimmed milk powder (SMP) fell by 2.4%.
Butter milk powder (BMP) was not offered at today’s event, while sweet whey powder was once again not available.