The Global Dairy Trade (GDT) Event 366, held on October 15, 2024, saw mixed outcomes across dairy products. While the index hardly plummeted by 0.3% with Global dairy price index at UsD 3852/MT.. Whole Milk Powder (WMP) prices remained relatively stable with only slight fluctuations, reflecting consistent demand. However, other categories, such as Lactose and Mozzarella cheese showed a big decline. Anhydrous milk fat and Butter almost toe the line with the change in index at 0.3% gain and loss respectively. Skimmed milk powder has again come down by 1.8% but Cheddar cheese showed a robust growth of above 4%.
This event also highlighted the ongoing global uncertainty in the dairy market, impacted by factors such as production levels, supply chain dynamics, and weather conditions in key dairy-producing regions. These trends are critical as the industry navigates global shifts in demand and competition between traditional and alternative dairy products. Absence of China is surely visible as the trade is unable to gain momentum.
Key Results
The average price/MT and index of each product.
Anhydrous Milkfat
Price Index
+0.3%
Average price per MT
$7,229
Butter
Price Index
-0.3%
Average price per MT
$6,495
Cheddar Cheese
Price Index
+4.2%
Average price per MT
$4,702
Lactose
Price Index
-5.8%
Average price per MT
$895
Mozzarella
Price Index
-8.2%
Average price per MT
$4,559
Skimmilk Powders
Price Index
-1.8%
Average price per MT
$2,745
Wholemilk Powders
Price Index
unchanged
Average price per MT
$3,553
| Number of Winning Bidders | 127 |
| Number of Bidding Rounds | 17 |
| Duration of Trading Event (hours:mins) | 2:24 |
| Minimum Supply (MT) | 36,366 |
| Maximum Supply (MT) | 43,531 |
Number of participating bidders: 169
Quantity sold (MT) : 38,956
