Global Dairy Prices Mixed On Today’s Trading
World dairy prices bumped up 1 percent in the aggregate on the Global Dairy Trade (GDT) auction today in New Zealand, but the better prices came mostly on the strength of skim milk powder (SMP) and lactose trades. Volume in the trading session was low, with less than 17,000 metric tons of product changing hands.
SMP prices climbed 6.7 percent to $1.16/lb and lactose jumped 15.6 percent to 61₵/lb. That’s essentially where the market strength ended.
Butter declined 1.9 percent to $1.73/lb and cheese dropped a full 6 percent to $1.75/lb. Whole milk powder (WMP) was down 0.5 percent to $1.21/lb.
U.S. prices for butter and SMP are still somewhat competitive globally. But that’s not so for cheese, WMP or lactose, which are now all trading above world prices.