Friday, March 29, 2024

Round-up: The results – event 155

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The first GlobalDairyTrade (GDT) auction for the year has seen a small decrease of 1.6% in the Price Index with the average price sitting at US$2458/t. The three main commodities sold on GDT all saw drops with whole milk powder (WMP) revealing the biggest drop for the auction. Butter and cheddar faired well at the auction.
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The index for WMP dropped by 4.4% with an average winning price of US$2210/t. The second biggest commodity sold on GDT, skimmed milk powder saw a 0.8% drop in its price index with an average winning price of US$1890/t. The price index for anhydrous milkfat fell 2.7% with an average price of US$3644/t.

All other commodities sold at the event faired well. Lactose made the largest gain with the index up 11.4% to an average price of US$594/t.

Butter gained 6.7% (US$3644/t), cheddar 3.5% (US$2964/t), rennet casein 3.9% (US$4736/t), and butter milk powder gained 1% to an average winning price of US$1586/t.

The butter price index has made gains at every event since November 3 and over the time has made a gain of 29.7%.

The January 6 event lasted for just under two hours over 12 rounds. The number of participating bidders was up by 5 to 166 and winning bidders was up on the previous event by 15 to 127. 

A total of 25,671t of product was sold at the auction up by less than 1000t from the previous auction but down by almost 8000t on the first auction of 2015.

Compared to the first auction of 2015 the GDT Price Index is down by 8.4% and the latest average winning price of US$2458/t compares with US$2709/t a year ago.

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