The GDT Price Index fell 2.9% from the previous auction with an average auction price of US$2190/t.
The number of participating bidders fell right off to 134 versus 160 at the previous auction, the lowest number since April last year. Winning bidders was similar to recent events with 118.
The auction lasted just under two hours in 13 rounds and a total of 20,406t of product was sold, the lowest volume since March last year. The 52 week average volume sold at the GDT auction is 28,470t.
Only butter milk powder and lactose showed improvements at the auction. The BMP Index was up 6.4% to an average price os US$1545/t and the Lactose Index was up 0.8% with an average winning price of US$624/t.
The most traded commodity at the auction, whole milk powder, so a slight decline in its index by -0.8%, with the average price still hovering below $2000 at US$1971/t a drop of $3 from the previous event. The Skimmed Milk Powder Index saw a heftier fall of -2.5% with an average price of US$1731/t, a drop of $71 from the previous week.
Anhydrous milk fat dropped -6.5% to an average price of US$3014/t, butter fell -2.8% to an average price of US$2733/t, cheddar dropped -5.6% to an average price of US$2441/t and rennet casein dropped -7.0% with an winning price of US$4083/t.
