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Global Dairy Trade index declines another 2.2%

The overall price index fell another 2.2 percent at the Global Dairy Trade auction Tuesday.  This is the fifth-consecutive decline putting the Index at 714; the lowest it has been since August of 2009.  In just over two months the index has lost 251 points.

Compared to the May 5^th sale: rennet casein was down 0.4%; whole milk powder was 0.5% lower; butter was 3.2% lower; skim milk powder fell 3.6% and cheddar cheese dropped 7.1%.

Lactose was 0.9% higher and butter milk powder increased 3.2%.  No sweet whey powder was offered.

There were 26,535 metric tons of products sold on Tuesday down slightly from the last sale.

Conducted on the first and third Tuesday of each month, dairy processors from the United States, Europe, Asia, India, Australia and New Zealand can offer surplus products in nine categories.  The auction is seen as a price-discovery mechanism for global dairy prices.