The GDT recorded a 0.5% decline at this week’s auction, the last of 2016. However, Chinese demand at GDT events in January is likely to spike, which should help dairy prices start 2017 on a positive footing. Meanwhile, the European Commission sold just 40t of skim powder out of intervention last week despite having placed 22,150t on the market. The EU aims to open tenders twice a month starting in January until it sells the remaining 22,110t.