Domestic Dairy Markets Move Higher As Global Auction Slides
Event 241 of the Global Dairy Trade took place on Tuesday with products almost concluding a clean sweep of lower prices. The lone product that didn’t trade softer was sweet whey powder as it wasn’t offered for trade. Products to note included butter falling 5.5% to $1.8425 per lb., cheddar declined 2% to $1.74 per lb, skim milk powder dropped 1.6% to $1.125 while whole milk powder closed at $1.3775, down 1.7% for the session. Three other products took hard falls in lactose losing 11% of value, anhydrous milk fat 5.1% and butter milk powder dropped 5.6%.
CME spot product markets traded in the opposite way of GDT – almost a clean sweep of positive trade. Cheddar barrels added 2 cents o value to $1.71 per lb. following 6 loads moving from seller to buyer. Cheddar blocks traded ¾ of a cent higher to $1.8675 per lb. Butter closed up a quarter cent at $2.35 per lb. Grade A nonfat dry milk moved to $1.0225, up a half cent Tuesday. Dry whey was unchanged at 34 cents per lb.
Class III milk prices turned in a solid round of trade on Tuesday. 2019 prices settled 6-13 cents higher while 202 prices grew in single digit values out through October. Class IV saw little change as September lost 6 cents and February was up 2.
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