Archive: GDT index unchanged from previous auction

Published 16 September 14

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The GlobalDairyTrade (GDT) price index was unchanged at the latest auction on 16 September, supported by marginal increases for milk powders. SMP and WMP were up by 0.9% and 0.6% respectively and account for the majority of product offered at the auction.

While buyer demand and slightly lower volumes appear to have supported milk powder prices, other products showed further declines. Butter fell by a further 2.5%, while Cheddar prices decreased by 6.5%. However, prices achieved for these products in the EU do not track as closely to the GDT outcome.

The average winning price was US$2,795/tonne, with a total of 52,785 tonnes of product offered – around 6,000 tonnes less than the previous auction on 2 September.

A detailed breakdown of the auction outcome by product and contract can be found on the DairyCo website here.