Results Mixed On Global Dairy Trade Auction
Results were mixed today on the Global Dairy Trade auction in New Zealand, with a heavy volume of dairy commodities trading. Nearly 42,000 metric tons of dairy products were sold.
The aggregate selling price was down 0.3%, the fifth consecutive bi-monthly auction to post such results.
But three of the seven commodities traded today posted positive numbers. Butter was up 2.4% to $1.87/lb. Other gains were anhydrous milk fat, up 1%, and lactose, up 1.5%.
Losers included cheddar cheese, down 1.8% at $1.54/lb and whole milk powder, down 0.9% to $1.24/lb. Skim milk powder, at 90¢/lb, was unchanged.
U.S. prices for cheddar and skim milk powder remain somewhat competitive on world markets. Butter and whole milk powder are not.
You can view the complete results here.