Whey powder.
April 2, 2019

Global Dairy Prices Continue to Inch Higher

 |  By: Jim Dickrell

For the 9th consecutive twice monthly trading session, dairy prices inched higher on New Zealand’s Global Dairy Trade (GDT) auction today.

 

Prices were up just 0.8% in the aggregate, and volume was light with 17,854 metric tons of dairy products changing hands. Nevertheless, butter posted a strong gain, up 5.8% to 2.44/lb. Cheddar cheese was up 3.2% to $1.93/lb, and skim milk powder (SMP) was up 1.8% to $1.12/lb. Whole milk powder on the GDT declined 1.3% to $1.49/lb.

 

U.S. prices for butter, cheddar and SMP are still well below world prices, making them attractive export buys. U.S. whole milk powder prices are still 7 to 10% above world prices.

 

For the entire GDT auction results from today, click here.

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