GDT Auction exits 2022 on a downer
Posted on: 20/12/22
Todays final GDT Auction of 2022 produced another disappointing and concerning set of results with all five products on offer recording price drops resulting in a 3.8% average fall compared to the auction held two weeks ago.
The quantity sold today was 28,724 tonnes which is 846 tonnes (-3%) less than the 29,570 tonnes sold at the last sale. The number of bidders today was down from 158 to 149 with successful bidders much the same at 117.
Notable movements were
SMP down 4.8% to US $2965 tonne.
WMP down 4% to US $3246 tonne.
Butter down 2.6% to US $4602 tonne.
Cheddar down 0.7% to US $ 4801 tonne.