Written by Agriland Team
The Global Dairy Trade (GDT) index has hit five consecutive increases following the conclusion of the latest auction earlier today, Tuesday, November 19.
Today’s tender – Event 248 – concluded with the GDT Price Index up 1.7%, according to the trading platform.
Lasting two hours and 26 minutes, today’s auction saw 187 bidders participate across 17 rounds, with 134 winning bidders emerging.
A total of 37,968MT of product was sold on the day.
Key Results:
- AMF index down 1.5%, average price US$5,108/MT;
- Butter index down 1.3%, average price US$4,061/MT;
- BMP not offered;
- Ched index up 2.5%, average price US$3,701/MT;
- LAC index up 1.3%, average price US$775/MT;
- RenCas index up 5.6%, average price US$7,668/MT;
- SMP index up 3.3%, average price US$3,017/MT;
- SWP index not available, average price not available;
- WMP index up 2.2%, average price US$3,321/MT.
Rennet casein (RenCas) was the big winner on the day, with an increase of 5.6% recorded. Skim milk powder (SMP) also preformed strongly, marking a 3.3% increase, while cheddar and whole milk powder (WMP) saw index rises of 2.5% and 2.2% respectively.
On the flip side, anhydrous milk fat (AMF) saw an index drop of 1.5%, while butter also fell by 1.3% in index.
Butter milk powder (BMP) was not offered on the day, while sweet whey powder (SWP) was once again not available.
Source: Global Dairy Trade
Today’s event follows on from a 3.7% surge last time out, with slighter rises observed prior to that in recent months.
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