Mostly Positive News in Global Dairy Market Trading
All major commodities, with the lone exception of butter, posted marginal gains on today’s Global Dairy Trade (GDT) auction in New Zealand. The aggregate price rose 1.9 percent, with just 21,410 metric tons of product changing hands.
Skim milk powder popped 3.1 percent to $1.18/lb. Whole milk powder was up 2.2 percent to $1.28/lb. And cheddar cheese rose 1.4% to $1.65. Butter declined 1 percent to $1.63/lb.
All of these world prices are well below U.S. dairy commodity price levels, with the exception of SMP, which is trading at right around $1/lb.
You can see full results of today’s GDT action here.