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Global dairy Index slides further

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Overall prices declined 5.9 percent on the Global Dairy Trade auction on Wednesday.  This is the eighth consecutive decline at the exchange which has lost 58 percent of its value since February and is the lowest it has been in six years.

The price of anhydrous milkfat increased 1.6 percent from the previous sale, everything else was lower: butter down 0.3 percent, rennet casein down 4.1 percent, cheddar cheese was 4.9 percent lower, skim milk powder dropped 5.8 percent, butter milk powder fell 8.1 percent and whole milk powder plunged 10.8 percent from the June 15th sale.  No lactose or sweet whey powder was offered.

There were 33,200 metric tons sold, the largest volume since the January 6th sale.

Conducted on the first and third Wednesdays of the month, the Global Dairy Trade auction offers dairy products in nine different categories from processors in the U.S., Europe, Asia, India, Australia and New Zealand.  The market is seen as a price discovery mechanism for world dairy prices.

Read the full report here:

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