The world market price of dairy products is at a low again

In the global dairy market, prices for standard dairy products remain under pressure. At the auction of the international trading platform Global Dairy Trade (GDT), all products except dehydrated milk fat were traded at lower prices than before. The aggregate price index fell by 1.0 percent to 959 points compared to the auction at the beginning of July. This was not only a new annual low, but also the lowest level of the past two and a half years, in November 2020 the index was 952 points. The price of Cheddar cheese fell the most, with the price of all delivery contracts falling by 10.1 percent to EUR 3,525/ton (HUF 1.39 million/ton) for January 2024 compared to the trading round two weeks ago. The last time GDT customers could buy this cheese at a similarly low price was in July 2021. Skimmed milk powder also reached a multi-year low. Although the average auction price fell only moderately, by 0.6 percent, to 2,231 euros/tonne (878,000 HUF/tonne), this led to the lowest level ...