News

Global Dairy Index drops 4.3%

Dairy prices were mostly down on the world market as Tuesday’s Global Dairy Trading index fell 4.3%, the second-largest drop in the index since February.

More than half of Tuesday’s trade was whole milk powder, which saw prices fall 8%.  Cheddar cheese and skim milk powder saw prices fall by 1.4%.  Butter and Anhydrous milk fat prices also fell less than 1%.  Buttermilk powder was the only product with a price increase Tuesday, up 9.9%.

Anhydrous milk fat was down half of a percent to $4,705 per metric ton or $2.14 per pound.

Butter prices fell 0.7% to $4,680 per metric ton or $2.13 per pound.

Buttermilk powder was up 9.9% to $2,207 per metric ton or $1.00 per pound.

Cheddar cheese was down 1.4% to $3,910 per metric ton or $1.85 per pound.

Skim milk powder was down 1.4% to $2,454 per metric ton or $1.11 per pound.

Whole milk powder prices fell 8% to $2,864 per metric ton or $1.32 per pound.

Tuesday’s GDT trading event went 20 rounds with 124 winning bidders purchasing 32,613 metric tons of dairy products.