Global Dairy Trade Price Index Rises 4.8%; Only Cheddar Price Declines

The price index on this week’s semi-monthly Global Dairy Trade dairy commodity auction increased 4.8 percent from the previous auction, held two weeks ago.

That was the fifth consecutive increase in the GDT price index. The last decline in the index was in November’s first auction. And prior to that decline, the GDT price index had posted three consecutive increases.

In this week’s trading event, which featured 181 participating bidders and 93 winning bidders, prices were higher for skim milk powder, whole milk powder, butter, anhydrous milkfat, and lactose; and lower for Cheddar cheese.

Buttermilk powder and sweet whey powder weren’t offered in this week’s auction.

Results from this week’s GDT auction, with comparisons to the auction held two weeks ago, were as follows:

Cheddar cheese: The average winning price was $4,082 per metric ton ($1.85 per pound), down 0.3 percent. Average winning prices were: Contract 1 (February), $4,072 per ton, down 1.2 percent; Contract 2 (March), $4,080 per ton, down 0.1 percent; Contract 3 (April), $4,099 per ton, up 0.9 percent; Contract 4 (May), $4,054 per ton, down 1.4 percent; and Contract 5 (June), $4,225 per ton, up 0.2 percent.

Skim milk powder: The average winning price was $3,243 per ton ($1.47 per pound), up 7 percent. Average winning prices were: Contract 1, $3,375 per ton, up 7.8 percent; Contract 2, $3,173 per ton, up 6.6 percent; Contract 3, $3,277 per ton, up 6.7 percent; Contract 4, $3,332 per ton, up 7.9 percent; and Contract 5, $3,351 per ton, up 8.5 percent.

Whole milk powder: The average winning price was $3,380 per ton ($1.53 per pound), up 2.2 percent. Average winning prices were: Contract 1, $3,366 per ton, up 2.1 percent; Contract 2, $3,360 per ton, up 2 percent; Contract 3, $3,380 per ton, up 2.1 percent; Contract 4, $3,430 per ton, up 2.5 percent; and Contract 5, $3,495 per ton, up 4.2 percent.

Butter: The average winning price was $4,735 per ton ($2.15 per pound), up 4.6 percent. Average winning prices were: Contract 1, $4,821 per ton, up 6.7 percent; Contract 2, $4,710 per ton, up 4.2 percent; Contract 3, $4,730 per ton, up 4.6 percent; Contract 4, $4,715 per ton, up 4.1 percent; and Contract 5, $4,765 per ton, up 4.7.

Anhydrous milkfat: The average winning price was $5,398 per ton ($2.45 per pound), up 17.2 percent. Average winning prices were: Contract 1, $5,357 per ton, up 14.5 percent; Contract 2, $5,449 per ton, up 18.1 percent; Contract 3, $5,472 per ton, up 19.7 percent; Contract 4, $5,325 per ton, up 16 percent; and Contract 5, $5,309 per ton, up 15.8 percent.

Lactose: The average winning price was $1,173 per ton (53.2 cents per pound), up 6.6 percent. That was for Contract 2.

All indicators continue to suggest demand for dairy products is likely to hold up well, through to the end of the ...

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