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 and butter also performed well, with increases of 3.3% and 3% in index respectively.
Meanwhile, lactose 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 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.
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Article by Sylvester Phelan from https://www.agriland.ie/farming-news/strong-powder-performance-sees-gdt-index-soar-in-latest-auction/