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Global Dairy Trade prices slightly lower
The semi-monthly Global Dairy Trade auction on Tuesday saw the overall price decline 0.6 percent compared to the August 5th sale. This is the fourth consecutive decline and 11th in the last 12 sales. However, it is the smallest decline in that stretch and could indicate the global market is nearing the bottom.
Prices were actually higher on some products: whole milk powder up 3.4 percent, anhydrous milkfat increased 3.6 percent and butter is up 4.9 percent from the last sale. Rennet casein slipped 0.8 percent, butter milk powder was 2.5 percent lower, cheddar cheese fell 7.9 percent and skim milk powder dropped 12 percent. No whey powder or lactose was offered for sale.
This is the lowest the overall price has been since August of 2012.
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