Global Dairy Prices Up for Third Consecutive Auction
The Global Dairy Trade auction was up 2.8% today, the third straight auction that prices were up. Eight of the nine commodities posted positive gains (with no prices available for sweet whey powder).
Of the major commodities, skim milk powder (SMP) was up the most with a 7.9% jump in prices to $1/lb. Butter gained 3.9% to $1.85/lb, cheddar cheese was up 3.2% to $1.53/lb, and whole milk powder was up 1.2% to $1.23/lb.
U.S. commodity prices are all above these levels with the lone exception of SMP, which is currently trading at 94¢/lb.