Global Dairy Trade index jumps 3.2% Tuesday
The Global Dairy Trade index jumped 3.2% in Tuesday’s trade with solid price gains for five products.
Butter had the biggest jump, going up 6.6% at $4,745 per metric ton, or $2.15 per pound.
Anhydrous milk fat prices increased 4.8% to $5,586 per ton, or $2.53 per pound.
Whole milk powder increased 3.8% to $3,329 per ton or $1.51 per pound.
Cheddar cheese prices rose 2.3% to $4,980 per ton, or $2.25 per pound.
Butter milk powder rose 2% to $2,633 per ton or $1.19 per pound.
Prices for skim milk powder held steady at $2,829 per ton or $1.28 per pound.
Sweet whey powder was not offered during Tuesday’s trading event, and there was also no lactose traded.
There were 166 participating bidders moving 32,582 metric tons of dairy products in Tuesday’s global trading event. It was the first time since December 22nd the index rose, and the largest increase since September 6th.