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Global Dairy Trade index gains a point
Global Dairy Trade auction on Tuesday saw the overall index increase 1 percent from the previous sale. Compared to the January 6th auction: butter increased 0.1 percent; skim milk powder was 1 percent higher, rennet casein increased 3.3 percent and whole milk powder was up 3.8 percent. Sweet whey powder lost 4.1 percent, cheddar cheese was 4.3 percent lower, anhydrous milk fat declined 5 percent and butter milk powder was 6.4 percent below the previous auction. No lactose was offered.
This is the third consecutive increase for the overall index which stands at 792 compared to the low of 739 back on December 2nd. The trend is increasingly believed to indicate the global dairy market is starting to rebound after a massive 753-point plunge through most of 2014.
The GDT butter price is now 6 cents above the Chicago Mercantile Exchange butter price while cheddar cheese is still about 16 cents below the U.S. price. U.S. dairy products have been well-above the global prices since early last year greatly reducing American exports.
Read the full GDT report here:
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