Global prices for butter decreased by 36%

At the auctions in mid-December, the average price index on the world dairy auction organized by New Zealand's Fonterra (the specialized trading platform GlobalDairyTrade – GDT) continued to decline and fell by another 4.4% (-46 points, to 1,008 points). This was the ninth consecutive decline in the GDT index, resulting in the index value dropping to its lowest mark since mid-December 2023. The average indicative price for dairy products amounted to 3,341 USD/t at the end of the auction. The volume of trading (34,000 t) fell by 0.9% compared to the previous auction but exceeded the volume of the corresponding period last year by 5.8%. The decrease in the average index was driven by a drop in prices for most dairy products, except for cheeses (cheddar and mozzarella) and lactose. The average price for whole milk powder (WMP) – the main commodity of the trading platform – decreased by 5.7% to 3,161 USD/t, and became the lowest since the beginning of August 2024. The price decrease ...