GDT Pulls back 4.1%

Todays GDT Auction result saw the average all products price fall a further 4.1% to average US $4360 tonne and follows a 1.3% fall only two weeks ago.

It now looks like the 8^th June rise was a bit of a rogue result with 7 out of the last 8 auctions recording declines.

Todays auction had 147 participating bidders of which 111 were successful and an increased 23,461 tonnes sold which was up 13% from the 20,760 sold two weeks ago.

Notable movers were:

Butter down 9.1% to average US $5648 tonne

SMP down 5.2% to average US $ 4063 tonne

WMP down 3.3% to average US $ 3961 tonne

Cheddar up 1.4% to average US $4908 tonne