Global Dairy Prices Again Decline
World dairy prices were again negative for the third consecutive week on the Global Dairy Trade (GDT) auction in New Zealand this week. In the aggregate, prices fell 1.7% on fairly heavy trading of 31,331 metric tons of product changing hands.
The only bright spot was skim milk powder, which did manage to climb 1.1% to $1.18/lb. Butter softened 2% to $1.53/lb. Cheese dropped 3.6% to $1.56/lb and whole milk powder was off 2.2% to $1.33.
U.S. skim milk powder remains competitive, but other U.S. commodities are trading higher than world prices.