Written by Agriland Team
The Global Dairy Trade (GDT) index has lifted in its latest auction to record a third consecutive increase.
The most recent auction – event 270 – concluded this afternoon (Tuesday, October 20) with the GDT Price Index up 0.4%.
Lasting two hours and 17 minutes, today’s auction saw 163 bidders participate. Following 16 rounds, 115 winning bidders emerged.
A total of 34,648MT of product was sold on the day.
Key results:
- AMF index down 0.5%, average price US$4,110/MT;
- Butter index up 3.3%, average price US$3,678/MT;
- BMP not offered;
- Ched index up 3.0%, average price US$3,803/MT;
- LAC index down 8.0%, average price US$1,087/MT;
- SMP index down 0.2%, average price US$2,851/MT;
- SWP index not available, average price not available;
- WMP index up 0.3%, average price US$3,037/MT.
The most dramatic move on the day was actually a sharp decrease of 8.0% to the lactose (LAC) index. There were also slight drops recorded for anhydrous milk fat (AMF) and skim milk powder (SMP), which fell by 0.5% and 0.2% in index respectively.
On the flip side, butter rose by 3.3% in index, with cheddar also performing strongly, with a 3.0% boost. Whole milk powder (WMP) chalked up a 0.3% lift on the day.
Butter milk powder (BMP) was not offered at today’s event, while sweet whey powder (SWP) was once again not available.
Source: Global Dairy Trade
Today’s event marks three increases on the trot following four consecutive decreases in recent months. Of these four, three were relatively small drops – which followed a spike of 8.3% back in July.
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