World Dairy Prices Continue to Inch Up
World dairy prices continued to inch up on the Global Dairy Trade (GDT) auction in New Zealand, with aggregate prices moving up 0.9% today. This is the sixth consecutive twice-monthly auction that dairy prices have moved upward.
Cheddar cheese climbed to $1.66/lb, up 2.9%. Skim milk powder (SMP) was also up 2.8% to $1.17/lb, the highest level it has been in quite some time. Butter was up 1.2% to $2.04/lb, and whole milk powder was up 0.3% to $1.37. The only decline came in lactose, which dropped 2.9% to 45¢/lb.
U.S. prices remain competitive for cheddar cheese, SMP and lactose. U.S. prices for butter and whole milk powder are still trading at a premium to world prices.
You can view all of today’s GDT results here.