Global Dairy Trade Auction Down 5.2%
Global Dairy Trade Auction Average Drops 5.2%
Today’s Global Dairy Trade (GDT) auction saw the weighted average for all products drop 5.2%, following a 4% drop in the March 4 event. Today’s downfall was led by a 10.7% plunge in anhydrous milkfat and a 10.7% drop in rennet casein. Whole milk powder was down 5.8%. Butter was down 4.4%, Cheddar cheese was down 4.1%, and skim milk powder was off 1.7%.
FC Stone reports the average butter price equated to about $2.0567/lb., down from $2.1527/lb. in the Jan. 7 event ($2.0065/lb. on 80% butterfat, down from $2.1002). The Cheddar average was $2.1052/lb., down from $2.1940/lb.; skim milk powder, $2.0792, down from $2.1128 per pound, and the whole milk powder average was $2.0136/lb., down from $2.1332 in the last event.
Source: GDT and FC Stone