Strong powder performance sees GDT index soar in latest auction
The latest Global Dairy Trade (GDT) event has finished with a strong boost to the index, for a fourth consecutive increase in recent auctions.
The most recent tender – event 263 – concluded this afternoon, Tuesday, July 7, with the GDT Price Index up 8.3%.
Lasting two hours and 31 minutes, today’s event saw 174 participating bidders go head to head across 17 bidding rounds, with 109 winning bidders emerging.
A total of 25,688MT of product was sold on the day.
- AMF index down 0.2%, average price US$3,981/MT;
- Butter index up 3.0%, average price US$3,717/MT;
- BMP index up 3.8%, average price US$2,417/MT;
- Ched index up 3.3%, average price US$3,762/MT;
- LAC index up 1.9%, average price US$1,309/MT;
- SMP index up 3.5%, average price US$2,694/MT;
- SWP index not available, average price not available;
- WMP index up 14.0%, average price US$3,208/MT.
In a strong showing almost across the board, the big winner on the day was whole milk powder (WMP), which skyrocketed by 14%.
This was followed by more moderate, though still positive results for butter milk powder (BMP) and skim milk powder (SMP), which recorded rises of 3.8% and 3.5% respectively.
Cheddar (Ched) and butter also performed well, with increases of 3.3% and 3% in index respectively.
Meanwhile, lactose (LAC) rose by 1.9%. Anhydrous milk fat (AMF) was the only product to record a decrease in index on the day, dropping by 0.2%.
Finally, sweet whey powder (SWP) was once again not available on the day.
Today’s result marks the biggest change to the GDT index to date this year, and brings the index to a figure of 996. This is the highest the index has been since early February, when the index was recorded as 1,007.