News dairy business
After butter, now cheese is down on Global Dairy Trade
During the previous edition of the Global Dairy Trade earlier in July, the butter price fell sharply. This time, the cheddar price is making a significant correction.
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With a loss of 10,1%, the cheddar price drops below $4.000 per tonne. The last time there was a three for the prize was two years ago. This illustrates the weakness in the cheese market, which is also evident in Europe, as a result of a lack of demand. The butter price also has to give in again and falls by 2,7% to $4.705 per tonne. AMF is the only manufacturer to make a profit and rises by 3,4% to $4.745 per tonne.
Milk powder prices are making relatively modest movements, but both have to give in. Skimmed milk powder drops 0,6% to $2.503 per tonne. Whole milk powder drops 1,5% to $3.100 per tonne. On balance, the average price drops by 1% to $2.289 per tonne.
The traded volume rises for the second auction in a row to above 25.000 tons, this is the highest level since March.