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GDT index falls to lowest point since Jan 2019


The latest Global Dairy Trade (GDT) auction, the fourth in the series of fortnightly events this calendar year, saw the price index fall to a 13-month low.


The February 18th auction saw 175 bidders compete for 28,181 tonnes of dairy products, paying an average $3,176 per tonne.


The price index fell by 2.9% from the previous fortnight’s event to reach 978 – the lowest point since the 942 on January 13th 2019. The latest fall is less than the previous fortnight’s 4.7% but follows two consecutive index rises in January.


Cheddar was the only product category to show an increase – gaining 5.3% to $4,526/tonne. Anhydrous milk fat was the biggest loser, down 5.5% to $4,379, while butter lost 3.9% to $4,090/tonne; whole and skim milk powders 2.6% each to a respective $2,966/tonne and $2,840/tonne; and rennet casein lost 0.9% to average $9,873/tonne.

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