Global Dairy Trade Index drops 3.3% Tuesday
The Global Dairy Trade Index fell 3.3% in Tuesday’s trading session. Prices for all products were down, but butter and buttermilk powder took the largest fall.
Buttermilk powder was down 11.4% to just $2,189 per metric ton, or $0.99 per pound.
Butter was down 10.3% selling for $4,842 a metric ton or $2.19 per pound.
Skim milk powder, which accounted for about 25% of Tuesday’s sales fell 6% to $2,525 per ton or $1.14 per pound.
Anhydrous milk fat prices fell 3.4% to $4,579 per ton or $2.07 per pound.
Cheddar cheese prices fell 3.1% to $4,386 per ton or $1.98 per pound.
About half of Tuesday’s sale volume was whole milk powder, which fell four-tenths of a percent to $3,149 per ton or $1.42 per pound.
Tuesday’s drop in the index is the second-largest of the year, behind the 4.7% fall on April 4th.
Overall, 24,837 metric tons of dairy products were sold to 107 winning bidders in 14 rounds Tuesday.