GDT slides for third time

Last night’s auction saw an average price decline of 3.6% to US$2,620, down from US$2,746 at the previous auction two weeks ago.

Skim milk powder saw the greatest drop, down 7.8% to US$2,253 a tonne, while butter fell 6.6% to US$3,026 a tonne, and whole milk powder slid 4.3% to US$2,446 a tonne.

Rennet casein also saw a small decrease of 0.6% to US$6,949 a tonne.

However, gains were made in buttermilk powder, which rose 2.1% to US$2,208 a tonne, while anhydrous milk fat was up 2.3% to US$3,744 a tonne, and cheddar increased 2.7% to US$2,888 a tonne.

Last night’s result was the lowest level since the last auction of 2014. Some 25,596 tonnes of product was sold, up from the 23,162 sold at April 1 auction two weeks ago.