News

Global Dairy Trade index drops 5% Tuesday

The Global Dairy Trade index tumbled 5% as large volumes of whole and skim milk powder affected prices.  The average price was $3,232 per metric ton in Tuesday’s trading, which had 118 winning bidders in 13 rounds of trade.  More than 26-million metric tons of dairy products were sold.

Whole milk powder was down 7.3% at $2,905 a metric ton or $1.31 a pound.  Skim milk powder was down 4.6% to $1,913 a metric ton or $.86 a pound.

Butter was down 4% to $5,390 a ton or $2.44 a pound, Cheddar cheese down 4.3% at $3,713 a ton or $1.68 a pound, and anhydrous milk fat was down 1.7% to $5,937 a ton or $2.69 a pound.  The only products seeing stronger prices on the GDT event were buttermilk powder and casein.  Buttermilk powder was up 6.4% to $2,480 a ton or $1.12 a pound and casein was up 3.6% to $5,089 a ton or $2.30 a pound.