A technical issue caused confusion for viewers of the latest Global Dairy Trade auction that took place overnight.
Initial reports indicated a massive 22% rise in prices across the board, before all the data vanished entirely. All products were marked as “not available” until technical issues were resolved and the price indices for Trade Event 390 were corrected and released.
When the regular service resumed, it was revealed that the price index had fallen by 1.4%, marking the fifth straight decline for the GDT auction.
Whole milk powder decreased by 2.4%, averaging US$3610 per metric tonne. Skim milk powder fell by 1.6%, reaching an average price of US$2559 per metric tonne.
Cheddar declined by 1.9%, averaging US$4758 per metric tonne, while butter dropped 0.8% to an average of US$6662 per metric tonne.
Mozzarella, which fell 5.3% to an average of US$3230 per metric tonne, has the largest percentage decrease.
Anhydrous milk fat increased by 1.5%, reaching an average of US$7038/MT.
A total of 40,621 MT of product was bought by 117 winning bidders, down from 42,013 MT and 125 successful bidders in the previous auction.