News
Global Dairy Trade index declines
The semi-monthly Global Dairy Trade auction Wednesday saw the overall price index decline another 3.6 percent. This is the third consecutive decline putting the index back to where it was on December 16th.
Of the eight products offered for sale, four saw price decreases from the last auction: rennet casein was 0.6 percent lower, whole milk powder was down 4.3 percent, butter was 6.6 percent lower and skim milk powder dropped 7.8 percent. Butter milk powder increased 2.1 percent, anhydrous milk fat was 2.3 percent higher and cheddar cheese gained 2.7 percent. Lactose sold at $572 per metric ton but there was no previous price for comparison. No sweet whey powder was offered for sale.
There were 25,596 metric tons of product sold at the auction on Wednesday, the largest volume since the February 3rd sale.
Held on the first and third Wednesdays of each month, nine dairy processors from the U.S., Europe, India, Australia and New Zealand offer products for sale in nine categories. The GDT is seen as a price discovery mechanism for global dairy prices.
Add Comment