Cheese wedges.
December 17, 2019

World Dairy Prices Drop 5.1%

 |  By: Jim Dickrell

World dairy prices took a major dip today, though cheese prices actually strengthened on the Global Dairy Trade auction in New Zealand this morning.

The overall composite prices declined 5.1% on fairly robust trading, with nearly 36,000 metric tons of product changing hands.

Cheddar cheese rose 1.7% to $1.76/lb. That’s roughly on par with U.S. block prices. But all other major dairy commodities fell, with whole milk powder dropping 6.7% to $1.41/lb, skim milk powder down 6.3% to $1.30/lb and butter off 2.4% to $1.76/lb.

You can read all the results here.