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GDT price index records first decline since March 2024

The Global Dairy Trade (GDT) price index has recorded its first decline since March 2024, falling by 0.5% at the latest trading event held today (Tuesday, June 18).

The price index now stands at 1,157, having decreased from 1,162 recorded at the previous GDT trading event on June 4. The drop comes after five consecutive increases.

A total of 16,787MT was sold at an average price of $3,893/MT at the 358th GDT event held today. This compares to a price of $3,824/MT at the previous event.

Anhydrous milk fat, butter, cheddar, lactose, skim milk powder (SMP), and whole milk powder (WMP) were sold at today’s auction. Butter milk powder and mozzarella were not offered.

The price index of butter recorded the biggest increase at the trading event, up by 6.2% to $7,350/MT. The price index of lactose saw a rise of 1.9% to $801/MT.

An increase was also recorded for the price index of SMP, which rose slightly by 0.7% to $2,766/MT. All other products offered recorded a drop 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.

 Today’s trading event included a total of 159 participating bidders, of which 106 were winning bidders across 21 bidding rounds and a total duration of two hours and 52 minutes.

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