World Dairy Markets Again Soften
Major dairy commodities softened on the Global Dairy Trade auction in New Zealand this morning. The two most notable exceptions were skim milk powder, which climbed 0.7% to $1.13/lb, and butter, which remained unchanged at $1.83/lb.
This is the third consecutive bi-monthly auction where aggregate prices declined. Today’s volume was also extremely heavy, with nearly 40,000 metric tons of dairy products changing hands. There were 197 buyers.
Both cheddar cheese and whole milk powder were each down 0.8%. Cheddar cheese dropped to $1.74/lb, and whole milk powder declined to $1.40/lb.
You can read all of today’s Global Dairy Trade auction results here.