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Global Dairy Events to launch new smaller auction

28 July 2022

The smaller event will be called GDT Pulse

Global Dairy Trade Events (GDT Events) said on Thursday it will launch a second smaller single product auction on alternate weeks between GDT auctions to increase price discovery, reported Reuters.

Currently the dairy auctions are held twice a month with a variety of dairy products such as whole milk powder, butter and skim milk powder on offer. The next one scheduled for 2 August.

GDT Events said in a statement that it hoped the smaller auction, GDT Pulse, will enhance liquidity in GDT by providing price discovery on a more frequent basis.

"GDT Events will continue to be the large volume, high liquidity events," it added.

"The auctions will offer one product specification to bid on: Fonterra Whole Milk Powder Regular, Contract Period 2," it said.

GDT Events is owned by New Zealand's Fonterra Co-operative Group Ltd, but operates independently from the dairy giant. US-listed CRA International Inc is the trading manager for the twice-monthly Global Dairy Trade auction.

Source: Reuters



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