The most recent Global Dairy Trade (GDT) auction – Event 216 – concluded earlier today (Tuesday, July 17) with the GDT Price Index down a further 1.7%.

This follows a nosedive at the last event two weeks ago, which saw the index take a 5.0% drop.

Lasting two hours and five minutes, the auction saw 168 bidders compete across 15 rounds, with 126 winning participants.

A total of 25,454MT was sold on the day.

Rennet Casein saw the most significant shift on the day, sustaining a 9.5% decrease, while Butter also took a hefty 8.1% hit.

Anhydrous Milk Fat (AMF) got stung with a considerable 5.2% drop. Product index increases were minimal on the day, with Whole Milk Powder (WMP) up 1.5% and Skim Milk Powder up 0.8%.

Lactose (LAC) was not available on the day, while Sweet Whey Powder (SWP) was also unattainable.

Meanwhile, earlier today, Dairygold’s board decided to maintain the base price paid for milk supplied in June at 32c/L inclusive of 0.5c/L quality bonus and VAT, based on standard constituents of 3.3% protein and 3.6% butterfat.

This hold on May’s price follows a 1c/L increase on the co-op’s April payout to suppliers.