Global Dairy Trade (GDT) event 374 recorded a slight 0.6% decrease in its price index compared to the previous auction. Despite this drop, the average winning price reached $4,370 per metric ton, maintaining relatively high levels in the global dairy market.
A total of 165 bidders participated in the auction, with 120 winning bidders. The event featured 15 bidding rounds and lasted 2 hours and 8 minutes, reflecting a dynamic trading session.
In terms of volume, the total amount of dairy products sold reached 22,651 metric tons, within the estimated supply range of 21,256 to 26,020 metric tons. This indicates a stable market in terms of product availability, although with a slight reduction in the quantity traded compared to previous events.
The results of this event reflect slight downward pressure on prices, possibly influenced by factors such as global supply, buyer expectations, and demand in key importing markets. It will be crucial to monitor upcoming auctions to determine whether this trend continues or if the market experiences a recovery in reference prices.
