GDT,
dairy market,
butter index,
auction
Prices drop at latest GDT auction, following six consecutive increases
Prices have dropped slightly at the latest Global Dairy Trade (GDT) auction; a decrease of 0.8% was recorded at today’s event.
This is the first decrease recorded at a GDT event since March 7, 2017. A total of six consecutive increases have been recorded since then.
There was a total of 111 winning bidders, over the course of 21 bidding rounds; the event lasted for nearly three hours.
The skimmed milk powder (SMP) price index climbed by 1.4%, while the whole milk powder (WMP) index fell by 3.3% at the latest auction.
An increase of 2.9% was recorded in the butter index and cheddar decreased by 3.8%. No butter milk powder (BMP) was offered at today’s event.
Key Results:
- AMF index up 4.4%, average price US$6,885/MT;
- Butter index up 2.9%, average price US$5,768/MT;
- BMP not offered;
- Ched index down 3.8%, average price US$4,121/MT;
- LAC index down 11.1%, average price US$869/MT;
- RenCas index down 8.0%, average price US$6,104/MT;
- SMP index up 1.4%, average price US$2,218/MT;
- WMP index down 3.3%, average price US$3,022/MT.
Based on agriland.ie