The Global Dairy Trade index tumbled 5% as large volumes of whole and skim milk powder affected prices. The average price was $3,232 per metric ton in Tuesday’s trading, which had 118 winning bidders in 13 rounds of trade. More than 26-million metric tons of dairy products were sold.
Whole milk powder was down 7.3% at $2,905 a metric ton or $1.31 a pound. Skim milk powder was down 4.6% to $1,913 a metric ton or $.86 a pound.