Global Dairy Markets Down a Tad
The Global Dairy Market auction today was mixed, but the composite price of the eight commodities traded was down 0.8%. Butter was up 2.9% to $2.62/lb and skim milk powder climbed 1.4% to $1.01 lb. But Cheddar cheese dropped back 3.8% to $1.87/lb and whole milk powder declined 3.3% to $1.37.
Volume on today’s auction was also low, at just 21,171 metric tons.
The good news is that U.S. commodity prices all remain competitive, with butter trading at $2.56/lb, cheddar barrels at $1.35/lb and skim milk powder at 91¢/lb on the Chicago Mercantile Exchange.
Your can read all the GDT results here.