The fortnightly Global Dairy Trade (GDT) price index has recorded its first fall since March 2024, dropping by 0.5%.
The latest auction, which took place on Tuesday (18 June 2024), means the index now stands at $3,893, down from the previous event, held on 4 June.
This latest price movement of the GDT, which was the 358th held, followed five consecutive increases.
A total of 16,787MT was sold at an average price of $3,893/MT at the latest auction, which compares to a price of $3,824/MT at the 4 June event.
Anhydrous milk fat, butter, cheddar, lactose, skim milk powder (SMP), and whole milk powder (WMP) were sold, but butter milk powder and mozzarella were not offered.
The price index of butter recorded the biggest increase at the auction, up by 6.2% to $7,350/MT. The price index of lactose saw an increase of 1.9% to $801/MT.
A rise was also seen for the price index of SMP, which rose slightly by 0.7% to $2,766/MT. All other products offered recorded a fall in their price index.
The price index of WMP declined the most, down by 2.5% to $3,394/MT. Anhydrous milk fat and cheddar recorded similar drops, falling by 1.2% to $7,317/MT and by 1% to $4,205/MT respectively.
