The latest Global Dairy Trade (GDT) auction has concluded with a slight decrease to the index, marking the first dip in five outings.

The most recent tender – event 264 – concluded this afternoon, Tuesday, July 21, with the GDT Price Index down 0.7%.

Lasting two hours and 22 minutes, today’s event saw 162 participating bidders go head-to-head across 15 rounds with 119 emerging as winning bidders.

A total of 23,995MT of product was sold on the day.

Butter saw the most dramatic move in index on the day, dropping by 4.9% in index.

Anhydrous milk fat (AMF) and lactose (LAC) also saw decreases of 2.8% and 2.5% respectively at today’s event.

On the flip side, both cheddar (Ched) and whole milk powder (WMP) recorded marginal increases at the tender.

Finally, skim milk powder (SMP) took a slight dip, dropping by 0.5% on the day.

Butter milk powder (BMP) was not offered at today’s auction, while once again sweet whey powder (SWP) was also not available.

Today’s dip in overall index comes following a very strong showing last time out, with the earlier July auction recording an 8.3% surge in index, which capped off four index rises on the trot, with today’s result halting this trend.