Global Dairy Trade index rises again
The Global Dairy Trade index jumped up 4.8% in Tuesday’s trading, marking the fifth straight increase in the price index.
Ninety-three winning bids purchased more than 29-thousand metric tons of dairy products on the worldwide marketing event, with the overall average at $3,593 a metric ton.
Cheddar cheese was the only product to see a price decrease Tuesday, falling three tenths of a percent to $4,082 per metric ton, or $1.85 a pound.
The biggest increase was for anhydrous milk fat, which went up 17.2% to $5,398 a ton or $2.44 a pound. Butter prices rose 4.6% to $4,735 a ton or $2.14 a pound. Lactose rose 6.6% to $1,173 a ton or $0.53 per pound.
Most of the trading was in whole and skim milk powder which accounted for more than three quarters of all sales. Whole milk powder was up 2.2% to $3,380 a ton or $1.53 a pound. Skim milk powder rose 7% to $3,243 a ton or $1.47 per pound.
Global Dairy Trade events are held twice a month. After falling prices in August and September, the index has risen in eight of the last nine trading events.