World Dairy Prices Up for Second Consecutive GDT Auction
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.