News

Global Dairy Index drops 1.3% Tuesday

The Global Dairy Index fell 1.3% in Tuesday’s trade.  Gains in butter and skim milk powder were more than offset by losses including a 9% drop in cheddar cheese.

Butter was up 2.4% to $6,213 a metric ton or $2.81 per pound.

Skim milk powder gained 1% to $4,276 a ton or $1.93 per pound.

Whole milk powder fell six-tenths of a percent to $4,125 a ton or $1.87 per pound.

Anhydrous milk fat prices fell 4.7% to $5,913 a ton or $2.68 per pound.

The nine percent drop in Cheddar cheese left the price at $4,875 a ton or $2.21 per pound.

Tuesday’s trading event had no lactose, buttermilk powder, or sweet whey powder offered.

There were 149 participating bidders purchasing 20,750 metric tons of dairy products Tuesday.