The Global Dairy Trade (GDT) index has taken sharp downward turn in the latest trading event today (Tuesday, July 2).<\/p>\n\n\n\n
The index fell by 6.9% from most recent index after the last trading event two weeks ago, the sharpest decline so far this year.<\/p>\n\n\n\n
The index figure is down from 1,157 a fortnight ago to 1,077 now, the lowest figure since late March.<\/p>\n\n\n\n
A total of 24,138 metric tonnes (mt) were sold in today’s auction, at an average price of $3,782\/mt.<\/p>\n\n\n\n
160 bidders participated in the event, with 113 winning bidders emerging across 16 bidding rounds over two hours and 23 minutes.<\/p>\n\n\n\n
Looking at the individual sub-indices for the various products, there were decreases across the board.<\/p>\n\n\n\n
The sharpest fall was for anhydrous milk fat (AMF), which decreased by 10.7% for a price of $6,517\/mt.<\/p>\n\n\n\n
The butter sub-index also fell sharply, by 10.2% for a price of $6,546\/mt.<\/p>\n\n\n\n
Cheddar fell back by 6.9% for a price of $3,980\/mt, and skim milk powder (SMP) fell by 6.1%, reflecting a price this time out of $2,586\/mt.<\/p>\n\n\n\n
Whole milk powder (WMP) fell back by 4.3%, for a price $3,218. No percentage change was noted for mozzarella, which recorded an average price of $4,260\/mt.<\/p>\n\n\n\n
Lactose was the only product to see an increase in its sub-index, recording a small increase of 0.6%, for an average price of $804\/mt.<\/p>\n\n\n\n
The latest GDT index figure is the second consecutive reduction in index, after the marginal 0.5% decrease after the last event on June 18.<\/p>\n\n\n\n
Prior to that, the index saw five consecutive increases since March 19.<\/p>\n\n\n\n