News

Global Dairy Trade index falls again

The Global Dairy Trade Index fell 4.1% in Tuesday’s trade with Cheddar cheese the only product gaining in value and butter taking the biggest fall.

Cheddar cheese was up 1.4% to $4,908 a metric ton, or $2.22 per pound.

Anhydrous milk fat was down 3.1% to $5,706 per ton or $2.58 per pound

Whole milk powder fell 3.3% to $3,961 per ton or $1.79 per pound.

Skim milk powder was down 5.2% to $4,063 per ton or $1.84 per pound.

Butter milk powder prices dropped 7.6% to $4,064 per ton or $1.84 per pound.

Butter was off 9.1% from two weeks ago, falling to $5,648 per ton or $2.56 per pound.

There were no offerings for lactose and sweet whey powder on Tuesday’s market.

There were 111 bidders participating in 17 rounds selling 23,461 metric tons of dairy products Tuesday.  This is the first trading event since Fonterra Cooperative Group sold 2/3rds of the trading platform to allow Fonterra, the New Zealand Exchange, and the European Energy Exchange to become equal owners at the end of June.