GDT is more or less a stand on

Todays GDT resulted in the average all price auction index reducing by only 0.1% which is more or less a stand on at US $3393 tonne ($3365 2 weeks ago)

 

Todays quantity sold was down 5% or $1606 to 31,872 tonnes (33,478 two weeks ago) with the number of participating bidders increasing to 164 (132 two weeks ago) and the successful buyers increased to 127 (114 two weeks ago).  No doubt the reduced tonnage coupled with a significant increase in buyer numbers helped stabilise the days auction results.

 

Notable movements were (all prices in US $)

Cheddar up 4% to average $4871 tonne

WMP up 0.1% to average $3218 tonne

SMP down 0.3% to average $2842 tonne

Butter down 0.6% to average $4449 tonne

 

Meanwhile domestically cream values are proving to be a huge headache to processors and its now trading at only £1.70 which is grim.