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Global Dairy Trade index declines further

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A third consecutive decline at the Global Dairy Trade auction on Tuesday. The overall index was down 7.9 percent from the November 3rd sale.  The index has lost 145 points since October 6th.

Butter milk powder was 1 percent lower; lactose decreased 2 percent from the last auction; rennet casein lost 4.4 percent, cheddar cheese fell 5 percent, anhydrous milk fat was 5.9 percent lower, skim milk powder declined 8.1 percent and whole milk powder dropped 11 percent.

There was one increase from the last sale, butter was up 5.6 percent.

Volume was 30,044 metric tons, the smallest amount offered since the June 16th sale.

Conducted on the first and third Tuesdays of the month, dairy processors from the United States, Europe, India, Australia and New Zealand offer products in eight categories. The GDT is seen as a price discovery mechanism for global dairy prices.

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