GDT bounces up and Intervention stock of SMP diminish
Posted on: 20/04/18
Tuesday’s GDT auction saw the average price increase by 2.7% to $3587/tonne, which is the first increase in 2 months where the previous four auctions have all recorded consecutive falls. All products offered for sale recorded gains.
Notable movers were:
Cheddar up 4.6% to average US$3855 tonne
SMP up 3.6% to average US$1913 tonne
Butter up 2.9% to average US$5654 tonne
WMP up 0.9% to average US$3111 tonne
Meanwhile, just under 25,000 of the circa 380,000 tonnes of ageing Intervention SMP were sold by the Commission this week, which is good news despite the fact it has had to be offloaded cheaply.