GDT Stalls

by | Apr 18, 2024 | GDT, Global

The price index edged 0.1% higher at event #354 on a reduced offering for now but news of higher deliveries in coming months.

SMP was flat on average, down 0.4% to US$2,541/t as later contract periods flattened, offsetting a 2.6% increase in Fonterra MH C2 price. Chinese involvement was lower, with SE Asian and EU buyers more active.

The WMP price rose 0.7% to average US$3,269/t, with later delivery contracts again softer. WMP demand was higher with tonnage offered down slightly on the previous event. China’s involvement remained subdued but offset by higher SE Asian and Middle East buying.

Butter posted 0.7% loss to average US$6,546/t, despite a lift in C1 price. AMF continued its winning streak, posting a 1.8% increase to average US$7,062/t, although C56 settled at US$6,600/t.

Cheddar prices fell 8.4% to average US$3,974/t, with later contracts even weaker.