The Global Dairy Trade (GDT) price index has fallen by 0.9% at the latest trading event held today (Tuesday, May 16), compared to the previous event.
On average, bidders paid $3,488/MT for products offered at the 332nd event which saw 21,565MT being sold.
This decline comes after a 2.5% increase in the GDT price index at the previous event at which 23,265MT were sold at an average price of $3,506/MT.
GDT price index
Of the products offered, butter saw the biggest increase at 2.2% to an average price of $5,068/MT, followed by a 0.3% rise to $3,244/MT for whole milk power (WMP).
Anhydrous milk fat saw the most significant drop in the average price paid at -4.5% to $4,600/MT at the latest trading event.
Cheddar and skim milk power (SMP) both recorded a decline in the average price paid, falling by 3.4% to $4,407/MT and 1.6% to $2,766/MT respectively.
Sweet whey powder was not offered at today’s event, while data for butter milk powder and lactose are not available.
In total 153 bidders participated in the event, of which 107 were winning bidders across 14 bidding rounds and a total duration of one hour and 59 minutes.
Milk prices
Meanwhile, Dairygold has announced its milk price for supplies in April, confirming a drop in its offering to suppliers.
Dairygold has reduced the April-quoted milk price by 2c/L to 40c/L, based on standard constituents of 3.3% protein and 3.6% protein and 3.6% butterfat, inclusive of sustainability and quality bonuses and VAT.
The April milk price equates to an average April farmgate milk price of 43.1c/L based on average April milk solids achieved by Dairygold milk suppliers, the processor said.