The semi-monthly Global Dairy Trade auction Tuesday saw the overall index decline another 3.5 percent.  This is the fourth consecutive decline at the auction putting the index at 730.  That is a 335-point drop since March and the lowest the index has been since August of 2009.

Compared to the previous sale, butter milk powder was down 14 percent, rennet casein dropped 11 percent, skim milk powder fell 7.5 percent, anhydrous milk fat was 6.3 percent lower, whole milk powder declined 1.8 percent and the butter price was 0.8 percent lower.  Only cheddar cheese saw a price increase up 9.1 percent from the last auction.  No sweet whey powder was offered and there was no comparison for lactose.

There were 27,369 metric tonnes of product sold Tuesday, the largest volume since last February.

Conducted on the first and third Tuesday of each month, dairy processors from the U.S., Europe, India and Oceania offer nine different products on the Global Dairy Trade auction.  The sale is a price discovery mechanism for global dairy products.