Global Dairy Events to launch new smaller auction
The smaller event will be called GDT Pulse
28 July 2022
1 minute read
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
