GDT: INDEX DROPS ANOTHER 2.9%

16 Mar GDT: INDEX DROPS ANOTHER 2.9%

Despite bullish market forecasts, there was virtually no positive outcome for yesterday’s  GDT auction. The GDT price index was down 2.9%, with WMP down 0.8% at an average price of US$1,971/t; SMP down 2.5% at $1,731/t; AMF down 6.5% at $3,014/t; Cheddar down 5.6% at $2,441/t; butter down 2.8% at $2,733/t; and rennet casein down 7.0% at $4,083/t. The lactose index was up 0.8% with an average price of $624/t and BMP was up 6.4% at $1,545/t.