Butter quarters.
October 6, 2020

World Dairy Prices Up for Second Consecutive GDT Auction

 |  By: Jim Dickrell

World dairy prices—in the aggregate—moved up again this week, the second consecutive Global Dairy Trade auction to see prices climb.

Aggregate prices were up 2.2% on heavy trading, with more than 77 million pounds of dairy products changing hands.

Butter shot up 8.4% to $1.62/lb. Cheddar cheese was up marginally (0.4%) to $1.68/lb. Skim milk powder (SMP) slid back 0.9%, but is still trading at $1.30/lb. Whole milk powder was up 1.7% to $1.38/lb. Lactose was off 7.4%, down to 54₵/lb.

These prices changes make U.S. butter, SMP and lactose competitive on world markets. U.S. block cheese, at over $2.60/lb, is nearly $1 above world prices.

You can view all of today’s GDT results here.