Slight increase sees new year cheer continue for GDT

The Global Dairy Trade (GDT) index has continued its positive start to 2020 with a slight increase after the latest auction.

Today’s tender – event 252 – concluded with the GDT Price Index up 1.7%, according to the trading platform.

Lasting two hours and 20 minutes, today’s auction saw 191 participating bidders go head to head across 17 bidding rounds with 143 emerging as winning bidders.

A total of 33,165MT of product was sold on the day.

Key results:

AMF index down 2.6%, average price US$4,821/MT;
Butter index up 5.5%, average price US$4,250/MT;
BMP not offered;
Ched index up 0.6%, average price US$4,048/MT;
LAC index up 0.5%, average price US$806/MT;
RenCas index up 4.7%, average price US$9,375/MT;
SMP index up 0.7%, average price US$3,036/MT;
SWP not offered;
WMP index up 2.4%, average price US$3,233/MT.

The big winning product at today’s event was butter, which saw a 5.5% rise in index, while rennet casein (RenCas) also performed strongly, notching up a 4.7% boost in index.

Whole milk powder (WMP) saw a 2.4% increase to its index, while there were more modest rises for cheddar (Ched), lactose (LAC) and skim milk powder (SMP), which recorded increases of 0.6%, 0.5% and 0.7% respectively.

On the flip side, anhydrous milk fat (AMF) dropped 2.6% in index, in what was the only decrease in product offering index at today’s tendering.