Global Dairy Prices Stagnate
Global dairy prices rose just 0.2% on New Zealand’s Global Dairy Trade (GDT) auction today. Volume was 26,688 metric tons, about par for the course.
Butter was the biggest gainer, up 3.4% to $2.72/lb. Cheddar was up 1.6% to $1.87, and whole milk powder was up 0.3% to $1.41/lb. Skim milk powder was down 3.2%, now trading at 92¢/lb.
U.S. domestic prices continue to be favorable, signaling continued potential for export sales. On the Chicago Merc this week, butter is trading at $2.65/lb, barrel cheese at $1.49 and skim milk powder at 85¢.
Read all the GDT results here.