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GDT slips
A slight decline in the Global Dairy Trade Index on Tuesday. The semi-monthly sale saw the overall price slip three-tenths-of-one-percent from the October 15th sale. The only product which saw an increase from the last sale was whole milk powder up 1.6 percent.
Skim milk powder was 1.2 percent lower, anhydrous milk fat lost 1.6 percent, rennet casein fell 2.2 percent, butter was 4.1 percent lower, butter milk powder dropped 6.9 percent and cheddar cheese fell 9.2 percent. No lactose or sweet whey powder was offered for sale.
Many had hoped that the slight increase in the October 15th auction was an indication that global dairy prices had bottomed-out. Tuesday’s decline seems to indicate that may not be the case.
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