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GDT drops further

GDT logo 2

Another 9.3 percent decline in the overall index at the Global Dairy Trade auction Tuesday morning. This is the tenth-consecutive decline putting the index at a record-low 514. The index has lost 451 points since March 3rd and 891 since a year ago.

There was a 0.2 percent increase in the cheddar cheese price compared to the July 15th sale. All of the other products were down. Rennet casein lost 2.7 percent, butter milk powder was 5.1 percent lower, butter declined 6.1 percent, whole milk powder lost 10.3 percent, anhydrous milkfat fell 11.7 percent and skim milk powder plunged 14.4 percent.

Volume was 46,527 metric tons, the largest sale since last October 15th.

Conducted on the first and third Tuesdays of the month, the GDT is seen as a price discovery mechanism for global dairy prices.

Read the full GDT report here:

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