GDT held their 18th Pulse Auction today. Highlights include:
- C2 (May ’23) Regular WMP – $3,230/MT, DOWN 0.6% or -$18/MT vs. last week’s GDT Auction on 7 March.
- 966MT or 96.6% of the total 1,000MT on offer was sold. Out of 30 participating bidders (UP 1 bidders vs. prior Pulse), there were 16 winning bidders (+1 vs. prior Pulse) over 6 bidding rounds (NC from prior Pulse).
- The slight decline on WMP price from the previous GDT auction reaffirms the bearish market sentiment as milk supplies begin to grow in the Northern Hemisphere while global demand remains lackluster.