Based on recent Global Dairy Trade (GDT) Auction reports, international
cheese and butter prices are closing in on U.S. prices as the GDT dropped in
May. The GDT price index fell 0.9 percent from the previous event with an
average winning price of $4,589 metric tons (MT). This is following the May 6
trading event experiencing a 4.6 percent increase from Apr. 15. The May 20
GDT price index drop breaks an upward trend that started with the Feb. 18
trading event. The next GDT auction report is scheduled for release on Jun.
3.