The Global Dairy Trade (GDT) price index has dropped slightly by 0.7% at the latest trading event today (Tuesday, November 7).
The drop to 987 is the first decline since August 15, 2023, and comes after four consecutive increases in the GDT price index.
A total quantity of 34,514MT was sold at the 343rd trading event today at an average price of $3,255/MT.
Anhydrous milk fat, butter, butter milk powder, cheddar, lactose, skim milk powder (SMP), and whole milk powder (WMP) were offered at the event.
The price index of lactose saw the most significant increase at 19.2% to $718/MT, followed by cheddar, butter milk powder, anhydrous milk fat and SMP.
Recording a rise of 4.5% the price index of cheddar now stands at $4,042/MT. The butter milk powder price index is up 3.5% to $2,323/MT.
At the latest trading event the price index of anhydrous milk fat increased by 3.1% to $5,489/MT, while SMP recorded a 2.3% rise to $2,724/MT.
Declines were recorded in the price indices for both WMP and butter today. Down by 2.7% WMP now stands at $2,971/MT, while butter fell by 1.6% to $4,890/MT.
In total 162 bidders participated in the event, of which 114 were winning bidders across 18 rounds and two hours and 28 minutes.