Milk powder.
September 17, 2019

Global Dairy Markets Rebound (Slightly)

 |  By: Jim Dickrell

Prices on the today’s Global Dairy Trade (GDT) auction in New Zealand climbed two percent, the first time markets have been up in the aggregate since mid-July, and only the second time since May.

Trading volume was also heavy in today’s session, with 37,345 metric tons changing hands. This is about 50% more tonnage than typically trades on the GDT.

Of the major commodities, skim milk powder jumped the most, up 3.4%. It’s now trading at $1.18/lb, making U.S. skim milk powder highly competitive.

Butter climbed 2.7% to $1.87/lb, which is still about 35₵ below U.S. prices. Cheddar was up just 0.4% to $1.75/lb, about 50₵ below U.S. block cheese prices. Whole milk powder closed at $1.42, up 1.9%. U.S. whole milk powder prices are trading in the $1.65 to $1.80 range.

For all of today’s trading activity, click here.