Tuesday’s Global Dairy Trade (GDT) auction saw its weighted average for products offered drop 3.5 percent, following a 1.0 percent decline October 17 and a 2.4 percent descent October 3.
Whole milk powder led the declines, down 5.5 percent, following a 0.5 percent loss October 17. Butter was down 3.6 percent following a 2.5 percent dip in the last event. Cheddar was off 2.8 percent, after inching 0.1 percent lower last time.
Skim milk powder was up 1.2 percent, after plunging 5.6 percent, and anhydrous milkfat was up 0.5 percent, after it jumped 5.2 percent last time.
FC Stone equated the GDT 80 percent butterfat butter price to $2.4412 per pound U.S. CME butter closed Tuesday at $2. . GDT Cheddar cheese equated to $1.8146 per pound U.S. and compares to Tuesday’s CME block Cheddar at $1.6325. GDT skim milk powder averaged 82.48 cents per pound and whole milk powder averaged $1.2937. CME Grade A nonfat dry milk price closed Tuesday at cents per pound.
