The Global Dairy Trade (GDT) recorded its first increase since June following the results of the latest event on Tuesday, September 6th.
27,127mt of products were sold during the auction, whilst the average price rose to $4,007 (+4,9%).
This long-awaited increase was led by anhydrous milk fat, which experienced a 13,9% growth after dropping by 9,8% in the previous event, whole milk powder (+5,1%), and butter (+3,3%).
Butter Milk Powder, however, experienced a -5,1% drop since the previous GDT event.
Vesper’s Market Intelligence Analyst Jasper Endlich explained that the reasons behind this rebound remain unclear. “Many factors could have contributed to this growth, ranging from a resumed demand from Asia to a brief recovery after weeks of consecutive drops. The coming weeks will tell us whether this upward trajectory is here to stay.”