Disappointing GDT result

He notes whole milk powder prices slipped 0.6% to US$3143/MT; this was unexpected as the milk futures market had predicted a 4% rise.

The GDT price index dipped 0.4% compared to the last auction.

Fat-based products- butter and anhydrous milk fat- also slipped; butter down 1.3% and AMF 1.2%.

Skim milk powder was slightly up – 0.3% to US$!968/MT.

Key results

AMF index down 1.2%, average price US$6,199/MT

Butter index down 1.3%, average price US$5,735/MT

BMP not offered

Ched index up 1.4%, average price US$4,005/MT

LAC index down 4.9%, average price US$747/MT

RenCas index up 2.9%, average price US$6,255/MT

SMP index up 0.3%, average price US$1,968/MT

WMP index down 0.6%, average price US$3,143/MT