Global Dairy Prices Soften for Most Products
World dairy prices failed to capitalize on the strength of U.S. prices on the Chicago Mercantile Exchange of this week and last. While the aggregate price on the Global Dairy Trade (GDT) auction in New Zealand inched up 0.1% today, most product prices softened. Trading on the GDT was also modest, with just under 22,000 metric tons of product trading.
Cheese prices on today’s auction declined 5.3 percent to $1.60/lb. Butter softened 4.4% to $1.65. And skim milk powder was off 0.5 percent to $1.15/lb.
The only commodities showing strength were whole milk powder, up 2.1 percent to $1.25/lb and buttermilk powder, up 9.4 percent to $1.06/lb.
You read all of today’s GDT results here.