The GDT Price Index lost 1.4% for the lowest overall result since mid-October at event #371.

WMP was weaker in general compared to the previous auction, down 2.2% to average US$3,804/t. Losses for regular product averaged less than US$100/t for C1-C4 but were smaller for later delivery. Demand was close to average. Chinese involvement continued to weaken with New Year just three weeks away. The SMP outcome was similar – sliding 2.7% to average US$2,682/t — ahead of last week’s Pulse but weaker than C2 in GDT #370.

AMF prices continued to slide, falling 1.3% overall to US$7,169/t but the greatest damage was for later deliveries which flattened the forward curve. Butter posted a 2.8% gain to average US$6,815/t with healthy price increases in contracts with short-term delivery.

Cheddar lifted 1% on average to US$4,728/t, while Mozzarella improved 3.6% on average to US$4,728/t.