News

GDT index rises despite drop in Cheddar prices

The Global Dairy Index rose 2-point-2 percent in Tuesday’s trading event with an average price of $2,819 dollars a metric ton.  It’s the first significant increase since early last winter.

More than half of the product sold was whole milk powder, which was up 2.5% at $2,667 a metric ton, or $1.20 a pound.  Nearly a quarter of sales were skim milk powder, which was up three-tenths of a percent to $1,970 a metric ton, or $.89 a pound.

Anhydrous milk fat was up 3.9% to $4,755 a ton, or $2.15 a pound.  The butter index rose 2.7% to $3,745 a ton, or $1.69 a pound.

The Cheddar cheese index was the only dairy commodity that fell in Tuesday’s trade, in part because of record stocks in cold storage.  Cheddar was down 2.2% at $3,184 a ton, or $1.44 a pound.