World Dairy Prices Soften a Tick
World dairy prices softened a bit on New Zealand’s GlobalDairyTrade (GDT) auction today, with prices down 0.4%. Volume was up however, with 32,500 metric tons selling. This is the largest volume traded since November of last year.
Butter prices were down 3.1%, to $1.28/lb. Cheddar cheese was down 0.5%, to $1.32, but skim milk powder actually strengthened 2.6% to 88¢lb. On the Chicago Mercantile Exchange last Friday, butter closed at $2.35/lb, barrel cheddar cheese at $1.67 and skim milk powder, at 84¢/lb.
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