Global Dairy Prices Up a Tick
Butter and cheese prices were up today on the Global Dairy Trade (GDT) auction in New Zealand, while milk powders retreated slightly. Volume was heavy, with 33,501 metric tons of product changing hands.
Butter climbed 3.8% to $2.70/lb. Cheddar cheese was up 2.5% to $1.87/lb. But skim milk powder dropped 1.2% to 88¢/lb and whole milk powder dropped 1.6% to $1.41/lb.
On the Chicago Mercantile Exchange, butter is trading at $2.57/lb and barrel cheese is trading at about $1.56/lb. Skim milk powder is at 86¢/lb.
For the full GDT report, click here.