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GDT slips again

Dairy herd

The semi-monthly Global Dairy Trade auction Tuesday saw the overall price index decline another 1.1 percent. This is the third consecutive decline in the index which has dropped more than 50 percent since February and is now the lowest it has been since August of 2009.

Interestingly, all of the loss was in whole milk powder which dropped 7.1 percent from the November 18th sale.  Whole milk powder makes up the lion’s share of the product sold at the auction.  The WMP price has dropped by more than 50 percent this year and skim milk powder is down 55 percent.

The cheddar cheese price increased 5.2 percent, skim milk powder up 5.7 percent, butter gained 7.3 percent, butter milk powder is 8.8 percent higher, anhydrous milk fat increased 9 percent and rennet casein is 9.3 percent above the last auction. No sweet whey powder or lactose was offered.

Conducted on the first and third Tuesday of each month, the GDT auction is viewed as a price discovery mechanism for global dairy prices. Dairy processors from the U.S., Europe, India and Oceania can offer lots of nine different dairy products for sale to hundreds of bidders from more than 90 countries.

Read the full GDT report here:

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