Whole milk powder (WMP), which accounts for the largest sales volume on GDT, lost 0.5%, with an average sales price of US$2188/t. The skim milk powder (SMP) price index also dropped, losing 3.2% and settling at an average price of US$1835/t. The anhydrous milkfat price index fared better, gaining 2.4%, and achieving an average selling price of US$3724/t. Butter gave up most of the lift it experienced at the previous event, having been overvalued. The butter price index fell 5.9%, and had an average selling price of US$3162/t.
Butter milk powder did better than all other commodities, gaining 2.7% and selling at an average price of US$1620/t.
The remaining commodities all lost value. Cheddar fell 3.4% (US$2867/t) and lactose 1.7% (US$579/t). The rennet casein price index fell the most, at 7.8%. It had an average selling price of US$4405/t.
The January 19 event lasted for an hour and 47 minutes over 11 rounds. The number of participating bidders was lower than the last event, at 156. The number of winning bidders was also lower than the last event, at 115 (-12).
A total of 21,930t of product was sold, down from the previous event by about 15%.
