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Global Dairy Trade prices continue to decline

Global Dairy Trade Auction Tuesday saw overall prices decline 2.6 percent, the fifth consecutive decline at the auction but significantly less than the 8.9 percent tumble two weeks ago. In fact, this is the smallest decline since the February 18th sale. This is the lowest overall average price since February of 2013.

The only increase was anyhdrous milk fat up 0.6 percent. Whole Milk powder was down 1.6 percent from the last sale, cheddar cheese is 3.3 percent lower, rennet casein down 4.3 percent, skim milk powder declined 4.4 percent, butter down 4.9 percent, milk protein concentrate fell 7 percent and butter milk powder dropped 8.6 percent compared to the April 1st sale. No lactose was offered for sale.

The auction triggered a busy day in the nonfat dry milk market on the Chicago Mercantile Exchange although the price held steady. There were 11 loads sold, 10 bids unfilled and 1 offer uncovered.

Read more GDT results here

 

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