Learn why the Global Dairy Trade Index dropped 6.9%. What led to the steep falls in milk fat, butter, and cheese prices? Get the details and understand what this means.
The Global Dairy Trade index saw a notable decline of 6.9% during Tuesday’s trading session. In contrast, only lactose managed a slight price increase, while all other dairy products experienced a decrease in value. In total, 113 winning bidders acquired 24,138 metric tons of dairy products over 16 rounds of bidding. Notably, anhydrous milk fat prices dropped 10.7% to $6,517 per metric ton, equivalent to $2.95 per pound.
- Butter: fell 10.2% to $6,546 per metric ton or $2.96 per pound.
- Cheddar Cheese: decreased 6.9% to $3,980 per metric ton or $1.80 per pound.
- Butter Milk Powder: dipped 5.1% to $2,672 per metric ton or $1.23 per pound.
- Skim Milk Powder: fell 6.1% to $2,586 per metric ton or $1.17 per pound.
- Whole Milk Powder: declined 4.3% to $3,218 per metric ton or $1.45 per pound.
- Lactose: prices edged up six-tenths of a percent to $804 per metric ton or $0.36 per pound.
