Milk powder.
November 19, 2019

World Dairy Prices Jump—Mostly

 |  By: Jim Dickrell

World dairy prices jumped 1.7% in the aggregate today on the Global Dairy Trade auction in New Zealand this morning. Trading was heavy, with just under 38,000 metric tons of dairy products changing hands.

Skim milk powder (SMP) show the most strength of the major commodities, up 3.3% to $1.37/lb. Cheddar cheese climbed 2.5% to $1.68/lb. Whole milk powder was up 2.2% to $1.51/lb. The only fly in the ointment was butter, down 1.3% to $1.84/lb.

SMP world prices are trading at about a 12% premium over U.S. skim powder prices, making it an attractive export commodity. The other three major dairy commodities—cheese, butter and whole milk powder—are still trading below U.S. prices.

You can view the full results of today’s GDT activity here.

RELATED CONTENT:

Global Dairy Markets Up Just a Bit

Global Dairy Markets Up Kinda Sorta

Global Dairy Markets Rebound (Slightly)

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