GDT | Final GDT trading event sees price index drop by 3%

The final Global Dairy Trade (GDT) auction of 2024 has resulted in the price index taking a drop of almost 3%.

As a result of today’s (Tuesday, December 17) auction, the GDT Price Index now stands at 1,219, down from 1,254, which was its highest level since July 2022.

The outcome follows three consecutive increases in the price index after the most recent trading events.

GDT

The average winning price in today’s trading event was $4,148/MT with 32,120MT of dairy commodities sold.

The auction, involving 183 bidders, took place over 14 rounds lasting a total of 2 hours and 11 minutes.

The sub-indices for the eight product types show that all but one, lactose, recorded decreases in average price today.

The index for lactose increased slightly by 0.5%, reflecting an average price of €915/MT.

Anhydrous milk fat (AMF) had the largest drop in average price of 3.8% to €7,267/MT.

There was a 2.9% fall for both skim milk powder (SMP) and whole milk powder (WMP) to $2,757/MT and $3,890/MT respectively.

Mozzarella was down by 1.8% for an average price of $4,033/MT, butter decreased by 0.6% to $6,631/MT and cheddar had a marginal drop (0.2%) to $4,682/MT.

The first GDT trading event of 2025 will be held on Tuesday, January 7.

Dairy

Meanwhile, a report published by Rabobank at the start of this month found that Chinese dairy imports could improve by “2% year on year” in 2025.

This would reverse the sharp decline in China’s net dairy product import volumes in the first eight months of this year which slumped year on year by 17%.

According to the latest Rabobank analysis Chinese SMP imports plunged by 36.8% year on year to 178,000MT. Imports of WMP also declined by 12.6%.

The latest RaboResearch also identified that liquid milk and cream imports by China fell by 15.6% while infant milk formula imports dropped back by 14.8%.

In China farmgate milk prices are near 10-year lows which has resulted in herd reductions and farm exits.

You can now read the most important #news on #eDairyNews #Whatsapp channels!!!

🇺🇸 eDairy News INGLÊS: https://whatsapp.com/channel/0029VaKsjzGDTkJyIN6hcP1K

Look also

Saputo COO Frank Guido steps down after three months in role

Saputo’s newly-appointed chief operations officer Frank Guido is to step down for unstated personal reasons, the dairy giant has announced.

You may be interested in

Dairy farmers struggle to cover expenses as American appetites change

Saputo COO Frank Guido steps down after three months in role

Wisconsin milk production dips in November

Topics |
GDT

Legal notice about Intellectual Property in digital contents. All information contained in these pages that is NOT owned by eDairy News and is NOT considered “public domain” by legal regulations, are registered trademarks of their respective owners and recognized by our company as such. The publication on the eDairy News website is made for the purpose of gathering information, respecting the rules contained in the Berne Convention for the Protection of Literary and Artistic Works; in Law 11.723 and other applicable rules. Any claim arising from the information contained in the eDairy News website shall be subject to the jurisdiction of the Ordinary Courts of the First Judicial District of the Province of Córdoba, Argentina, with seat in the City of Córdoba, excluding any other jurisdiction, including the Federal.