The latest Global Dairy Trade (GDT) event 260 event has concluded up 1% from two weeks prior. The big winner at today’s event was lactose (LAC) which shot up by 15.6% in index, easily the most dramatic move among product indices on the day.Skim milk powder (SMP) also performed strongly, rising by 6.7% in index; though, on the flip side, cheddar dropped by 6% at the event. Butter fell 1.9%, and Cheddar fell 6% over the previous auction. Whole milk powder fell slightly lower losing half of a percent, and Rennet Casein fell 1.9% from prior trade. Lasting for two hours and 19 minutes, today’s event saw 172 bidders participate across 17 rounds, with 107 winning bidders emerging. A total of 16,787MT of product was sold on the day.
Key results:
- AMF index up 2.7%, average price US$4,079/MT;
- Butter index down 1.9%, average price US$3,803/MT;
- BMP not offered;
- Ched index down 6.0%, average price US$3,864/MT;
- LAC index up 15.6%, average price US$1,341/MT;
- RenCas index down 1.9%, average price US$8,719/MT;
- SMP index up 6.7%, average price US$2,549/MT;
- SWP index not available, average price not available;
- WMP index down 0.5%, average price US$2,677/MT.
Today’s increase marks two small index rises, and four index drops across the six auctions that have been held since the start of March.
