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Monday, December 11, 2017
 GlobalDairyTrade Auction Down 2.8%  

It’s hard to believe that a market falling 2.8 percent would be considered “good news” but this week’s Global Dairy Trade auction provided just that. The weighted average for products offered Tuesday, February 16th was down 2.8 percent to $2,235 per ton, this is the fourth consecutive auction with a decline leaving many to believe the decline would be greater. 

 

Only one product offered showed a gain. Anhydrous milkfat was up 1.5 percent, after dropping 6.6 percent in the last event.


Leading Tuesday’s losses was rennet casein, down 11.5 percent, following a 3.7 percent dip last time. Cheddar cheese followed, down 5.6 percent, after losing 4.2 percent last time. 


Whole milk powder was down 3.7 percent, after it led the declines last time at 10.4 percent. Butter was off 2.3 percent after plunging 8.3 percent last time, and skim milk powder was next, down 1.4 percent, after slipping 2.2 percent.


The smallest loss was on buttermilk powder, off 1.2 percent, following a decline of 6.7 percent last time.

 

A total of 22,021 tons of product where sold to 151 participating bidders during the February 16th auction, which is a 10 percent decrease from the previous auction. 

 

The next auction is scheduled for March 1st.

Source: GlobalDairyTrade


Posted on Friday, February 19, 2016 (Archive on Friday, February 26, 2016)
Posted by bholcomb@adpi.org  Contributed by bholcomb@adpi.org
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